Waves looks like it could jump. Im not really into patterns such as cup and handle but this one has a lot going for it. Watch for rejections at key levels.
Comment:
There is confluence at the (Value area high of the volume profile) and the (618 fib) level at 4.715. (long term)
Comment:
We bounced from a Golden Pocket and appear to be heading up to key levels. Anything can happen though.
Comment:
there is a golden pocket and ndaily point of control above us (high confluence area) @2.230
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Comment:
If you get the chance, the 618 + range Point of Control at 2.065 could be a great support level. However, it may go to outer space instead and leave you waiting. This is where the total market makes or breaks the difference.
Comment:
The Total did in fact lead us right to the Golden Pocket. Anyone that doubts TA ever working needs to see this post.
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