Cycle last from blue to blue.
The yellow lines represent points within the complete cycle where trend is likely to change +/- 1 day.
Using these dates along with a chart of price ( support/resistance ) should give indications of when to take positions.
Hah, it is almost 2 months, sorry for the misleading title ;)
AND: This cycle has a BEARISH bias.
For today I would love to see a bullish bias with sort of double top movement and to then take short to hold until 22nd of August.
Put contracts entered
Brutal slamdown on report. Continuance bearish till 22nd
Trade closed: target reached:
Closed shorts. Awaiting new position after this trading day
Went long. Risky trade as we are in downtrend. 5 % margin impact.