Apologies for not recording a video for this second part! I tried, 3 times, but it would not upload for some reason! Grr!
I explained the different scenarios that could play out, in Part 1. What will I be doing? Hmm....
I will be looking for shorts at position #1, should price make it there. There are three confluences of support there: the 618 fib, the support turned resistance that was tested multiple times (left) and the blue long time trendline. It is a solid place for price to reverse from.
I will be looking for longs at position #2, as that is a Weekly level of support. It aligns with S3 of the fib monthly pivot levels, adding another confluence.
Now, price may crash through #2, possibly. But we are prepared if we are forewarned, right? I have another level of Weekly support waiting at 38703.13. So, we look for bullish formations and patterns there should price reach it.
Keep the plans in mind as price moves this weekend. Enjoy it!
Leave a comment, will ya?! I want to hear from you!
LIKE and SUBSCRIBE if you support my efforts. And thank you!
I explained the different scenarios that could play out, in Part 1. What will I be doing? Hmm....
I will be looking for shorts at position #1, should price make it there. There are three confluences of support there: the 618 fib, the support turned resistance that was tested multiple times (left) and the blue long time trendline. It is a solid place for price to reverse from.
I will be looking for longs at position #2, as that is a Weekly level of support. It aligns with S3 of the fib monthly pivot levels, adding another confluence.
Now, price may crash through #2, possibly. But we are prepared if we are forewarned, right? I have another level of Weekly support waiting at 38703.13. So, we look for bullish formations and patterns there should price reach it.
Keep the plans in mind as price moves this weekend. Enjoy it!
Leave a comment, will ya?! I want to hear from you!
LIKE and SUBSCRIBE if you support my efforts. And thank you!
