Sell below yesterday’s low if it
-wasn’t closing outside the daily BB
-wasn’t a green C
-wasn’t a CAP
Sell if yest. was a cyan / pro volume bar (use C)
Cover right before the close
Sell retracement after green C
75, 90, 130, 170
Barrelling down = selling 8-16 EMA field
Confirmation: does price reach the BB30?
Ok. One by one.
Let’s acknowledge this trending move down. Every time price pulled back to between the 8EMA of opens and the 16EMA of halves, they sold again and price moved below the 30-sample Bollinger Bands (white lines), until once it did not (yellow). That was the end of the leg.
Second thing: it’s all about how the price settles. The re-balancing day is still working out its own gender.
Admittedly I was not expecting the 18-sample stochastic that was embedded a few days back to get this oversold in mere 4 candles. This is why I said that a CAP print is not likely to be at the end of this Wave 2.
If the close would be off the low by 27 pips, this would have CAP printed below it. If the stochastic finishes above 9.5, it would have a green C (Bollinger spike & close back).
What do you get if you divide 389 by 440? 0.884. That’s pretty close to 86%. This can still be a deep Wave 2 that I have been talking about despite of what the Dollar seems to be doing against the rest of the other currencies in the basket.
Just that we are on the same page, here’s the Wikipedia Fibonacci entry that is wrongly listing 50% as a Fibonacci number and is saying nothing about 85.4 for instance.
Lastly, let’s admit it, I am only posting on this blog to share YouTube videos. No argument to be had with this one.
Barrel of a fun