Didn't play out as predicted. At the decision point, rather than breaking out, we broke down. Whales just pushed price below long-term support (green line) but holding to the swing we're in. Looks like a good buy-in under $7400.
Previous prediction was overzealous. I've redrawn the light blue curve to terminate at a further date and changed the pitch to one with more contact points. There was a lot of interaction with the trend lines, but we lacked the momentum to take us up to the next trend line. We may stick to the purple line, but more likely the upper Gann fan edge... down to the...
If we break out of this last Gann fan channel now, we may test the next resistance point. If we fall in the channel we may hold to the next lower support. Either way, we should end up in the same price in the near future.
Green line is a flat trend line from last year giving strong rising support. Dark blue was our strong reversal that broke down when 2 swing supports crossed over the green trend line. Price fell to supports with lots of action at the light blue short-term swing arch. Expect the light blue line to show strong support as we run back up to higher numbers.
Watching these whale moves push the price around and I just want to see if I called this... going flat, crossing the trend line, falling straight down, building back up, then shooting up.
pretty clear from the chart, was calling a correction toward the end of the last swing, but it went another leg higher, a good sign for the pending bull run set to start June 1.
