This setup is dependent on FED putting in 0.25 rate hike next week. We can test our current low before we start to rally. The setup is based on the intersection of trend line from 25 K top and trend-based time fib 38.3% projection as well as mid line of daily gaussian Channel, which is expected to be around the shown target at the time of intersection.
Comment:
An important condition for this setup is to not lose out current low.
Comment:
As we have already reached the midline of gaussian channel and we are above the trending line from 25K top , we can now look at higher target for Thursday's pivot. Which should fall somewhere around the VAH of the 20K to 25K range.
So I will be looking for shorts in that zone now . 23300 to 23600
So I will be looking for shorts in that zone now . 23300 to 23600