Now, we are standing at a point $1,215 Bull Market failed to halt the decline, interpret that the bull market has been trying to hold a further decline for 5 days, but the price until last week seen can not be closed above $1,228 Bear Market Failed To Reach The Target and If viewed from the period of consolidation, it will need 2 days away of the remaining minimum time (Sept 31, 2014), and the maximum is 7 days away (Oct 05, 2014).
Referring to the Daily TF, based on the formation of The Youngest which tend to form, I interpret that any pullback that occurred on Sept 16, 2014 around $1,240 and on Sept 23, 2014 around $1,235 and the last on Sept 26, 2014 around $1,230, depicts a performance weak of the seller (maybe my interpretation could be wrong), but if the selling pressure occurs again, then the point $1,193/80 is the last decline ($1,193 can be use to see the signs).
From the movement of consolidation that occurred during 5 days ago, I saw a candle reversal appears on Weekly TF, but it can not be used as a confirmation until the next candle, whether can be closed a above $1,228 (minimum) and above $1,240 (maximum). If $1,180 is broken and price can closes below, then The Youngest's step down of movement predicted almost the same as the step down of The Oldest (http://my.jetscreenshot.com/21013/20140929-vjsk-156kb).
Let us to be patient till it make clear this week or next week, and let it the market come to us.
From The Desk Of A Newbie