Need the Price Action to Push Up to $9,900 to Confirm Reversal.
The White Energy in the Monthly and the 3-Week Time Frames is what has me wondering if we do up to the upper boundary of our descending channel and fall again. We need to breakout of the upper boundary of our descending channel to have a better chance of confirming a reversal to upward pressure.
My TA has focused mainly on WHEN we can anticipate a reversal to SUSTAINED upward pressure; resulting in a transition from Phase D to Phase E of a Wyckoff Accumulation Schematic. Sure, it was fine to go long when we found bottom after filling that gap on the CME Futures Contracts at $7,220. However, make sure to implement a stop loss.
We have several continuing to point out the possibility of an extended Wave C of an A,B,C in a "zig-zag" pattern. If that were to occur, we could easily see a low of $4,900 and not begin coming back up until June, 2020. Sure, that is possible. However, that would take me totally by surprise if that were to occur. We will need to watch the Daily, 2-Day and 3-Day very carefully over the next week or two if you have already made a long entry. If you have not implemented a stop loss, please do so NOW to be on the safe side.
It's IMPORTANT to me to remain open-minded and un-biased when doing my TA. There is still a CHANCE for more downward price movement. The month of January will be HUGE in determining if we are to breakout or continue falling down to lower lows.
My apologies for being bummed out and lack of updates lately. We had a rather busy holiday. That's also when my wife and I discussed moving in with her mother to help her out. I'll do what I can to check in on the charts to provide updates when I can during this time I'm building another office and moving out over the next couple of months. I'll also TRY to get back in the groove of a LIVE stream every weekend. Sorry, but I have to skip a LIVE stream this weekend.
I'll follow up shortly with a chart to determine potential price points on this current move up.
My TA has focused mainly on WHEN we can anticipate a reversal to SUSTAINED upward pressure; resulting in a transition from Phase D to Phase E of a Wyckoff Accumulation Schematic. Sure, it was fine to go long when we found bottom after filling that gap on the CME Futures Contracts at $7,220. However, make sure to implement a stop loss.
We have several continuing to point out the possibility of an extended Wave C of an A,B,C in a "zig-zag" pattern. If that were to occur, we could easily see a low of $4,900 and not begin coming back up until June, 2020. Sure, that is possible. However, that would take me totally by surprise if that were to occur. We will need to watch the Daily, 2-Day and 3-Day very carefully over the next week or two if you have already made a long entry. If you have not implemented a stop loss, please do so NOW to be on the safe side.
It's IMPORTANT to me to remain open-minded and un-biased when doing my TA. There is still a CHANCE for more downward price movement. The month of January will be HUGE in determining if we are to breakout or continue falling down to lower lows.
My apologies for being bummed out and lack of updates lately. We had a rather busy holiday. That's also when my wife and I discussed moving in with her mother to help her out. I'll do what I can to check in on the charts to provide updates when I can during this time I'm building another office and moving out over the next couple of months. I'll also TRY to get back in the groove of a LIVE stream every weekend. Sorry, but I have to skip a LIVE stream this weekend.
I'll follow up shortly with a chart to determine potential price points on this current move up.
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3-Day Time Frame:
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Monthly Time Frame:
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3-Day TF once again:
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If the price action would run up to the Magenta PRIMARY FIB at $9,948.98, this would give us room to fall back down to the Yellow Weekly 20-MA to begin acting as support in a similar way the Yellow 20-Week MA acted as support in 2016 and 2017. The Yellow 20-Week Moving Average (MA) is currently sitting at $8,415.
I know I said we need the price action to come up to $9,000 to "confirm" reversal to sustained upward pressure. However, I would feel better if it went higher. Such as going up to my PRIMARY 1.0 FIB at $9,948.98.
I know I said we need the price action to come up to $9,000 to "confirm" reversal to sustained upward pressure. However, I would feel better if it went higher. Such as going up to my PRIMARY 1.0 FIB at $9,948.98.
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