Supports/Resistances marked in yellow, in order:
±6825, ±7200, ±7500.
Special periods in ichimoku; 9, 17, 26, 33 and 42.
- Lowest (57xx) till highest (849x): 26 days. (3x 9 day cycle, -1)
- "Bowl" from June 9th (76xx) till July 24th (849x): 45 days (~42 or 5x 9 cycle)
- June 28th, reversal moment both sides at 18 days: down on 10th of june, up on 17th of july
- July 17th spike up, 18 days later, spike down.
What does it mean?
If the wave and number patterns keep up, the next reverse spike should be around the 22nd (plus or minus a day, ichimoku is forgiving about this). Thes means the lowest low we could see from now on is between: 6600-6800, if we stay inside the wedge. This also confirms supports.
Expect to go 'relatively sideways' for about a week before new big swing occurs.
Reversal periods marked vertically: 10th of august till 15th.
Note: (52 days, 42+9 (+1) since last reversal gap (22th of june), which in return was 31 (33-2) days from gap before.
±6825, ±7200, ±7500.
Special periods in ichimoku; 9, 17, 26, 33 and 42.
- Lowest (57xx) till highest (849x): 26 days. (3x 9 day cycle, -1)
- "Bowl" from June 9th (76xx) till July 24th (849x): 45 days (~42 or 5x 9 cycle)
- June 28th, reversal moment both sides at 18 days: down on 10th of june, up on 17th of july
- July 17th spike up, 18 days later, spike down.
What does it mean?
If the wave and number patterns keep up, the next reverse spike should be around the 22nd (plus or minus a day, ichimoku is forgiving about this). Thes means the lowest low we could see from now on is between: 6600-6800, if we stay inside the wedge. This also confirms supports.
Expect to go 'relatively sideways' for about a week before new big swing occurs.
Reversal periods marked vertically: 10th of august till 15th.
Note: (52 days, 42+9 (+1) since last reversal gap (22th of june), which in return was 31 (33-2) days from gap before.