Looking for lower prices.
$1270 - $1260
Got a few upside objectives depending on PA
$1290 - $1310 depending on PA.
I'll wait for price to unfold.
Price.. the actual number is important,
the fact that we went to 1283.33 tells me theres weakness.
I break down price into 00's 20's '50's 80's
IF we're in a up trend and we're retracing I'd like price to catch support from 80's
thats Strong. IF we are retracing deep into the 70's 60's that tells me price price wants lower, maybe 50's even 20's.
In this down trend we look for entries around resistance.
Therefore i want to see reactions (breaks/flips)
of the lower levels like 20's and 50's. AS price is falling i want in to create structure - heavily violating boundaries between 50's and 80's to signify it wants lower.
As we retrace higher i want price to heavily violate the boundaries between 20's - 50's.
ONCE WE CAUGHT SUPPORT FROM $1280 WE RAN TO 1283.33 A PREVIOUS HIGH. STRUCTURE FAILS TO CLOSE ABOVE.
I hope all this makes sense. Been away for a while. Markets look good.