It may be wise to keep your powder dry till the 21st Nov where main Low is indicated - at this point price appears to be moving down into that date. Below is an outline of the recent swing - Notice the first leg down into the 18th Oct Low ran 8 days a decline of 12.3% or 11.55 . If we compare this reaction against the current swing down we have overbalanced the time period which measures 14 days into the 21st Nov projected Low but the price amplitude between both swings is fairly well balanced . Currently we are down 9.68 from the 7th Nov Top so a price of 82.19 would balance against the previous swing which is a handy guide to work with . By running through these price calculations we are generating two or three important harmonic points which can then be marked on the chart and as we move into the 21st Nov we can see if any of these points are closely aligning with our targets . The 1x1 Angle projected up from the 26th Sept Low will intersect 81.85 on the 21st Nov so we should also keep an eye on whether price is touching and holding above this Angle which is an important indicator on the strength of trend . It could be the case that price moves down relatively quickly into this point over the next few sessions and the important price level to watch is around 81.80 which is a 360 Deg price rotation which could culminate around the 45 Deg Angle so that would be the main price point to monitor .
Comments