It appears that Platinum may be heading up to retest prior support now resistance.
PRZ falls within this resistance area, which should be supportive for a move back
down given candle/technicals signs of reversal there.
I take a slightly different slant on the shark formations. For me, the meat of the
formation is the lower low/higher high that falls within the 1.13-1.618 extension.
If you study shark setups at these two points, and note how price reacts there, I
believe you will soon note the acceleration that often accompanies the reactive
moves there. In other words, it's the trip TO the PRZ I want to be on! First test is
the break of the channel (parallel from the two peaks/two troughs from the
point in between). The move could be a "c" leg of a corrective flat (which btw
just occurred in the SPX-USD yesterday).
Even in the event price does not reach the PRZ, the move will typically be
"brisk", allowing for B.E. stops and partial "take offs" early in the trade.
Should price reach the PRZ, then this is the "icing" so to speak. Strictly my take!
Any/all comments welcome.
PRZ falls within this resistance area, which should be supportive for a move back
down given candle/technicals signs of reversal there.
I take a slightly different slant on the shark formations. For me, the meat of the
formation is the lower low/higher high that falls within the 1.13-1.618 extension.
If you study shark setups at these two points, and note how price reacts there, I
believe you will soon note the acceleration that often accompanies the reactive
moves there. In other words, it's the trip TO the PRZ I want to be on! First test is
the break of the channel (parallel from the two peaks/two troughs from the
point in between). The move could be a "c" leg of a corrective flat (which btw
just occurred in the SPX-USD yesterday).
Even in the event price does not reach the PRZ, the move will typically be
"brisk", allowing for B.E. stops and partial "take offs" early in the trade.
Should price reach the PRZ, then this is the "icing" so to speak. Strictly my take!
Any/all comments welcome.
コメント:
I have redrawn the bearish shark to begin from the Nov 26 peak. I think this generates better proportions. Our lower low today has put a strain on the relationship of AC (basis the tool I use), and has increased to 1.56+. Without a rally soon we may lose this potential harmonic setup.