So a couple of new items here to share if you have been following this idea. First I have switched from the 15 minute to the 30 minute chart as we had discussed earlier. The reason is that the 200 MA here on the 30 minute chart has clearly turned to the upside and I have place a small extension on it to indicate where it is headed.
Second, I have moved up my fib chart a little bit and adjusted my target upwards. I have learned when using this style of chart that as the price action moves higher the chart also needs to creep up to match the important resistance area. It's not always clear but you get a feel for it.
I would expect a retracement here at this resistance point indicated by my drawing. This is a normal retracement area and is necessary for the final push. Once the lower target is set and I see where it lands I may adjust the fib chart again. So target now 14600 to 14800 potentially.
Second, I have moved up my fib chart a little bit and adjusted my target upwards. I have learned when using this style of chart that as the price action moves higher the chart also needs to creep up to match the important resistance area. It's not always clear but you get a feel for it.
I would expect a retracement here at this resistance point indicated by my drawing. This is a normal retracement area and is necessary for the final push. Once the lower target is set and I see where it lands I may adjust the fib chart again. So target now 14600 to 14800 potentially.