Hello all,
Provided we have a decisive breach of the Sliding Parallel, There is good evidence on the hourly that we are at an important level for an upward push initially to the upper yellow median line & if that is breached to the upper yellow parallel and possibly higher levels. My reasons are based initially on lower Gap created ie. Price failing to reach the lower purple and green (dotted) Median Lines. There are other supporting reasons backing me that this is a descent low including, but not limited to, a 55 Day Fib & 29 Day Lucas count terminating at the low.
PS: The connected purple arrows are only a hypothetical sequence of price moves and are unlikely to be emulated precisely. My Initial forecast (if the Sliding Parallel is breached) is to the yellow ML and if that is breached to the upper yellow MLH.
Sincerely,
TIK
Provided we have a decisive breach of the Sliding Parallel, There is good evidence on the hourly that we are at an important level for an upward push initially to the upper yellow median line & if that is breached to the upper yellow parallel and possibly higher levels. My reasons are based initially on lower Gap created ie. Price failing to reach the lower purple and green (dotted) Median Lines. There are other supporting reasons backing me that this is a descent low including, but not limited to, a 55 Day Fib & 29 Day Lucas count terminating at the low.
PS: The connected purple arrows are only a hypothetical sequence of price moves and are unlikely to be emulated precisely. My Initial forecast (if the Sliding Parallel is breached) is to the yellow ML and if that is breached to the upper yellow MLH.
Sincerely,
TIK