There is a massive confluence zone sitting at the present value area of 1.7449.
• The very important Marjor 2/8th Harmonic of 1.7427 has been tested and price has moved below that level – but this is a very mean fake out and a very big bear trap. Evidence of that is supported by the strong and immediate buying found at the 45-degree Gann Square of 9 angle at 1.7293.
• New cycle begins on December 4th, end of current Law of Vibration cycle.
• Impulse wave complete.
• Bullish divergence between both price and the Composite Index as well as the RSI and the Composite Index.
• Most important, Gann’s 49-day ‘Death Zone’ cycle.
• The very important Marjor 2/8th Harmonic of 1.7427 has been tested and price has moved below that level – but this is a very mean fake out and a very big bear trap. Evidence of that is supported by the strong and immediate buying found at the 45-degree Gann Square of 9 angle at 1.7293.
• New cycle begins on December 4th, end of current Law of Vibration cycle.
• Impulse wave complete.
• Bullish divergence between both price and the Composite Index as well as the RSI and the Composite Index.
• Most important, Gann’s 49-day ‘Death Zone’ cycle.
Trade closed: target reached
3/4ths position taken for profit, +424 pips.Trade active
Added after pullback on Dec 11th.Note
Continuing to hold - but sold 1/2 of the position at 1.8278.Trade active
Added at 1.8180Trade active
3/4 profit taken 1.8665.Trade active
Still holding 1/4th position, waiting to see if there is a breakdown from this level (very likely).Trade closed: target reached
All closed for profit
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.