Revised location of blue zone support for Bulls using a modified Schiff
Trade active:
Just hit blue zone. Now monitor reaction. If Bulls can hold support, then look for breach & close > red upper parallel. Trade setup invalid if price does not find support > 221
Trade active:
Blue zone support holding for now. Monitoring breach > red Median Line Parallel
Comment:
Blue zone support held. Looking for new highs while upper parallel holds as support
Comment:
Note support in blue zone at the upper parallel held & buyers have stepped in above the upper parallel since. Overlapping price action though, so support on or above the median line parallel is important.
Trade closed: stop reached:
Stopped out at 334. Deeper correction unfolding.
Comment:
Potential complex correction (eg triangle)