Price did not move into the 9th Dec date as anticipated - To validate this Cycle a Low was required which did not eventuate so we will pass this date up and await the next . I went back and had a look at the Charts and the 15th Dec looks like a fairly solid Cycle that could turn out to be Low for a move up . The current leg up from the 14th Oct Low has had two small pullbacks which were outlined in previous diagrams - this is quite interesting as the previous moves up were shorter in duration and only contained one pullback. If price does pull back over the next few days there is a good chance we could make counter trend Low on the 15th Dec so that is the set up that I am looking at to occur. By taking the previous range down of 213pts and subtracting it from the 2nd Dec Top we get a target of 3887 which will balance the previous range and is only 30 pts off current levels so this will be our first zone to gauge price strength and there is a good chance that we may move lower so it would be wise to let this movement develop and a few days before the 15th Dec we should be able to refine the price level down to one or two points if this move plays out . From the 15th Dec Low we could be looking at a swing up into either the 29th Dec or the 2nd Jan 2023 so roughly two weeks in the trade . The largest previous swing into the 30th March Top was around 689 pts so we could use that as a measuring point off the 14th Oct base which would equal 4180 only 80 points off the current 4100 high but please bear in mind this is just a measure based on previous price amplitude and it will serve as a rough price guide . The previous Top was made on the 5th Jan 2022 so we will be close to running out a 52 week Fixed Cycle into this date .
Lets have a look at where price is in relation to the percentage of the main High and Low - these two figures are 4818 and 3491 and are interesting points to monitor particularly as we move into the larger Cycle dates . 4216 could be an important zone to watch if we move higher into the 29th Dec which is the first date indicated for Top - notice Low was made on the 1/8th level at 4114 before a large advance . 3614 is quite a fair way off but it did align quite closely with the 16th June major Low highlighting the importance of these natural harmonic ratios . Notice the current price action is bordering around the 3927 level so it will be interesting to see if we break below this point and move lower into the 15th Dec for Low .
3979 is 4 Squares up from the Low and we are currently trading below the Square so there is a good chance we are in a position to move lower . Two Squares up from the Low equals 3731 which is some way off but we should mark these levels on the chart as permanent measures just in case we do experience an unexpected pullback . The best approach is to wait for the 15th Dec to draw closer and once the date or price is confirmed as Low we can then trade OUT of the Cycle date . Usually a few days beforehand we will be able to determine if price is lining up against any of the harmonic price points or Square calculations and hopefully one or two days beforehand I can pinpoint one or two price zones which can be marked on the 60 minute chart and used as stop placement levels .
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