always gotta have a plan ... just some price points to look out for and keep and eye on. for scaling into this zone during the retest.
bulls say: until 61k is broke it doesn't even matter
bears say: give me 40k
neither so be able to talk anyway so its irrelevant for trading
these strategies are signaling the consolidative move isnt over, and revisiting mean and regression is likely
theres no way to prove at the moment we will go through a phase like this, but if the opportunity presents itself its a path that mathematically makes sense
KEY POINT - PROBABLE OPPORTUNITY ZONE IDENTIFIED - GC - WEEKLY
From previous analysis which is still relevant, we are extending the analysis idea to this new configuration.
After having waiting so long for this point to be triggered, we have now the GC Gold Future price oscillating and playing around a potential highly probable critical price point.
We have what...
Looking at the chart we could have two possibilities for Cable.
If we close above the midline of the purple price point by the end of today, I expect a push higher to the 1.34130 area over the next week.
I we fail to break the mid line I'll be looking at and ranging market between 1.3200 and 1.3000
Considering the trend for the last couple days, a large bullish or bearish movement will most likely take place soon, especially if we factor in the triangle formation it's moving towards.
The two price points showcase a possible bearish or bullish movements on surpassing the price point. Please pay close attention to the stock breaking out of the triangle...
