Good day trader!
If the after hours highs get taken out 2789.25 then up we go and the normal zone for a turn is 2812.50+-5.75. If this happens without more backing and filling this rally is toast pretty soon and in keeping with bear ripping rallies that peter out quickly.
If the low gets taken out 2767.50 which is slightly more bullish. The normal zone for 2744.25 with extensions to 2733 +-5.75.
I am waiting for resolution besides tiny scalps in the meantime and more coffee of course!!!
I will commit myself to say we pass 2813.75 by at least a tick by 90% probability. lol
Further on...I have never seen a month bar with the characteristics like October not be taken out. So, unless "this time is different", new year highs are not going to happen. This move up I label as wave 2 of A in a multi year drop.
I wanted to mention I found 2 mistakes down there at the start of this move up. That were red flags (divergences) and I ignored them relying too much on the kraken. Almost every time the Kraken has missed it is because of this but it did try to get there from above 3 times really close. That is the power they have. It still failed due to the divergences. I won't make that mistake again and mention it.
Good trades y'all
Edited by zoropb, 04 December 2018 - 09:17 AM.