Too much to say about this. Let the chart speak for itself.
Don't forget to follow your 90 and 360 levels. Is 7200 a new resistance level?
I created my own VPVR based on support levels. These hold confluence through all of 2019.
Every rally should funnel around a certain floor. We are constantly fine-tuning these level with brute force. This is what the VPVR intends to show.
We definitely want to hold the double yellow as that was our floor through the bull market. Loads of volume in this range.
Extended out, this is the red box BUT we might touch and gain support in the purple box.
I previously called for 6800 with this full move and we touched 6775. Ask my friend. :)
We should settle between 1.5 and 2x the ATL.
I closed my shorts for now although see more downside. Our break now could be others closing shorts, opening longs, etc. Usually a break in the rally is halfway through the full move. The red candlesticks should mirror themselves. We are already seeing this. Take our last rally for example. 7400-8600-9800. This worked out perfectly. The market has a funny way of taking profit 50% of the way through the measured move. This information should be helpful.
The market moves like water in a box. It is fluid but still has a shape.
Good luck,
Boombox
Don't forget to follow your 90 and 360 levels. Is 7200 a new resistance level?
I created my own VPVR based on support levels. These hold confluence through all of 2019.
Every rally should funnel around a certain floor. We are constantly fine-tuning these level with brute force. This is what the VPVR intends to show.
We definitely want to hold the double yellow as that was our floor through the bull market. Loads of volume in this range.
Extended out, this is the red box BUT we might touch and gain support in the purple box.
I previously called for 6800 with this full move and we touched 6775. Ask my friend. :)
We should settle between 1.5 and 2x the ATL.
I closed my shorts for now although see more downside. Our break now could be others closing shorts, opening longs, etc. Usually a break in the rally is halfway through the full move. The red candlesticks should mirror themselves. We are already seeing this. Take our last rally for example. 7400-8600-9800. This worked out perfectly. The market has a funny way of taking profit 50% of the way through the measured move. This information should be helpful.
The market moves like water in a box. It is fluid but still has a shape.
Good luck,
Boombox