When do we know definitively that a level has failed? This chart shows the failure of both the previous VAIS and AIS. Though both were nicely profitable trades if entered at the appropriate time, subsequent price action has nullified their usefulness. Note how there was an immediate reaction as each failed, signaling that the "weak" or short-term shorters bought to cover their positions which caused a spike in price.
Though there have been many great short-term and daytrades/scalp profitable trades short and long, the longer term chart still shows range-bound price action with a spread of about 550 pips. By studying the price action from the last time this level was reached, we can learn alot about what to expect this time. If the scenario changes, the price action at the reaction levels will show clearly who is in control and what their targets are.
We have identified targets for the current VAIS and the 4th target for the most recent AIL. Our clients have been alerted to a number of other entries and their targets , though they are not shown on this chart.
May have to scroll chart to see all the levels shown on chart.