We are entering the critical TIME window here for a number of price pattern setups I have.
Perversely, the more we bounce here, the more swing/IT bearish it likely is. Whereas, a bounce limited to 2650-2655 that drops down to 2570 actually
has a high odds chance of being an IT low due to a high odds pattern, though, I would need to see hourly swing buy signal coincident with that test.
So on the ST setup chart -
Setup 1 - Bounce to 2650-2655 then drop to 2560-2670 and put in IT low.
Setup 2 - Bounce to 2680-2690, then drop hard to 2560-2570 as well, but NOT an IT low, and after bounce here, drop to 2500 or lower.
Those are the two highest odds pattern setups I have. A 3rd not marked
Setup 3 - I put this lower odds, but in this case tomorrow we fail at the open, not even breaking above 2640, and roll over, that one
wd be nasty, but it wouldn't change anything, same deal, i'd be looking for bounce 2570+-10 but again, it wd NOT be IT low.
Timing wise, if there is going to be a bigger bounce as per setups 1 & 2 it ought to come here now, fri and maybe into monday.
FYI - some background to where these setups come from:
This is based on a large number of things, but those that have followed my work for years know I've explained it in detail, but for now, the simplest explanation is I combine:
- Price patterns : like the idea of say 'head and shoulder' but these patterns are based on proprietary patterns i've identified, some of which are fractal based, and some of what I call Bot' Footprints (BFs')
- A signal buy/sell system - which uses many signals, each independent, looking for agreement for Key Pivots ( the circles) and direction out of them, this again is mostly proprietary so I can't show most of it.
The price patterns are 'setups', and the Key pivots are the ideal entry/exit points and used to calculate risk/reward, and the signals are for direction ( and calculate confidence in setup - low, or high probability)
Trading wise for this move: I am position short, looking to buy bounce as hedge where I can identify them, until I get next IT buy setup.
Question everything, especially what you believe you know. The foundation of science is questioning the data, not trusting the data.
I only trust fully falsified, non vested interest 'data', which is extremely rare in our world of paid framing narratives 'psy ops'.
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