Daily flat about to be completed

mark124の投稿

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Shorts about to be squeezed and market participants likely get bullish straight into finish of wave "C" ;)

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Bare in mind that even 7.6-7.7 is enough to complete flat. Doesn't have to go that high as marked on the chart.

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Going with plan.

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Some data not present on chart:

reversal zone is quite wide and around 8280-8650 so it might go little bit higher than marked.

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Target was hit

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However we see that this is quite strond indeed and might overperform towards 9200 area. If it does, then it's more like ABC correction - not a flat one.

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Market might retrace to 7.8 with quick crash anytime from now. Odds are not big but stay prepared.

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Either with correction or without.

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In case of correction it should be quick one with long wick.

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Initial target were hit with precision up to 5$.

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Inv about 10.45 stamp. Reveral zone is quite broad from 9 to 9.6, not looking for tops or bottoms as always.

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Measured target for H&S from bottom is around 9440. Dont get caught in bullish euphoria here. This is potential reversal zone which can result in great multi-day swing play.

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Target hit with few dollars precision

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However we expect that this might get pulled up for one more strike up.

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Bottom is just rough estimation.

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Today is friday so cme close, if this doesnt get pulled to at least 8.7 before close - 7.9xx-8xxx visit might be on cards.

In this case the proper spike up we mentioned above might get delayed until next week.

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In theory area was areached, but timings might not allow this one to trigger (READ ABOVE UPDATE). Weak CME close will result in further selloff during the weekend.

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CME Closed at 8.5, this is not bad and no good. Staying neutral.

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As update: we're expecting market to make some new local lows then bounce towards target market in above chart (9xxx). The possible reversal zone is from 7950 to 8130.

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