August 8th is around the corner, which is the next important specific calendar date that Gann discussed. There has been a strong market bottom found on the GBPUSD forex pair.
If we observe the thin red horizontal line right at the current value area (it is 0726 CST at the time of writing this), it acts as a natural pivot and rejection at price. Additionally, the current cycle in the Law of Vibration ends. That is probably the most important factor here: the end of a time cycle and the start of a new cycle. These cycles in the Law of Vibration act as a source of resistance IN TIME to the trend in force - expect this level to be a swing low for at least a 45-90 day period.
If we observe the thin red horizontal line right at the current value area (it is 0726 CST at the time of writing this), it acts as a natural pivot and rejection at price. Additionally, the current cycle in the Law of Vibration ends. That is probably the most important factor here: the end of a time cycle and the start of a new cycle. These cycles in the Law of Vibration act as a source of resistance IN TIME to the trend in force - expect this level to be a swing low for at least a 45-90 day period.
Trade active
Long still active and we should expect a strong rise from this value area. Very high probability of a greater than 20+ pip drive higher this week.
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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.