First arc showing strong resistance.
Updated
To keep it simple, price might get down to ~1100 before continuation of current uptrend (may go lower down).
Arc resistance has been strong up to now on this singled arc; price could take its way up with help from the 1/1 angle magnetism. In this case, two resistance levels marked in blue discontinuous lines, plus the top end line of the first square, will test a possible continuation to such uptrend, which will be tested again on the first arc pair. My feeling is that we'll go low before that, so I have to remember hard that feelings are mining less here.
I’ll keep an eye to this Gann Square position as time goes by although this one makes sense to me right now.
I’ll be happy with any comments and views. Thank you for reading me.
Arc resistance has been strong up to now on this singled arc; price could take its way up with help from the 1/1 angle magnetism. In this case, two resistance levels marked in blue discontinuous lines, plus the top end line of the first square, will test a possible continuation to such uptrend, which will be tested again on the first arc pair. My feeling is that we'll go low before that, so I have to remember hard that feelings are mining less here.
I’ll keep an eye to this Gann Square position as time goes by although this one makes sense to me right now.
I’ll be happy with any comments and views. Thank you for reading me.
Note
Price finally went up climbing the 1/1 angle and has been stop by the 1rst arc pair. I wouldn’t go long until price has closed above the current square top line, but that’s me. Until ETF approval / denial we might see some daily trading opportunities out of profitable enough swings. Extension lines might be a bit old now but still I think a dip down around that area (~1100) will come before the SEC decision.
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