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PHASE 1 - PHASE 2 - PHASE 3 (wait for confirmation)

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Phase 1 shows an uptrend, followed by a lower high, then had a retest of lower support, followed
by a higher low, then we broke above prior resistance, followed by the same move.

I'm looking for this same move again in phase 2 in the pennant. ^

Remember, it's Sunday so paying attention to this week's (CME) is important.

Weekly close in just under 8 hours. (8pm EST)

Good luck.

I'll be posting updates every hour for the day.

Hit the like button.

👍 👍 👍 👍

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I've extended the prior target zone (white box), because it lines up perfectly with the resistance zone that is the (target), & a must for the bulls to gain back either today or this week. Likely if we hit the white box again, we could see a breakout to the upside (12k). Possible for a retest lower, patience always wins in this game. Controlling your emotions and just thinking as logically & rationally as possibly. Arrow that says "(AREA TO BREAK) is the zone of prior resistance that I'm referring to.

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Here we have a new channel I've created (dotted line) - If this pattern plays out it's likely it stays somewhere around the 11550 - 11600 area for support before continuation. Remember the market enjoys playing head games.

Stick to your play & don't react with emotion.

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It looks like the wicks have been bought up (thus far) & we'll have more up like planned. 15 min close was good (green). I'll post another update in an hour.

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This is a separate chart but just a point I'd like to add into this for you guys.

We've been in a mini downtrend since August 1st as you can clearly see here with the lower highs. SO, considering we've broken 10500 (bull market signal), I'd say we've reached a local bottom soon enough & we'll head to 12k in the next week. (13k over time)

評論

^^^^^ MINI DOWNTREND SINCE THE TOP 12095 AREA ^^^^^^

Meaning we've seen a healthy retest.

(if we hold 11400 - 1600 on this monthly close)

IT WILL BE THE FIRST TIME IN YEARS.

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Short term target:

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Currently breaking resistance from August 8th at 11:30pm.

(IF WE BREAK THIS HERE AND HOLD)

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Looks like bulls want to break this trend line.

(breakout possible here)

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(breakout - retest -
consolidation - continuation

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NICE 4 HOUR VISUAL FOR YOU GUYS WITH A BULLISH TARGET
(the green checkmark)

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Broke prior resistance after we broke out of the trend line - possible breakout soon.

Congrats to those who have been paying attention & following the updates!

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(Short term target reached)