Not a lot of new information to provide tonight. We did make a new high on the 3min MACD today indicating we should continue moving higher tomorrow. This could be a false signal though as the 1Hr MACD looks ready to fall. They are still basically 50/50 in odds, but I switched the primary and ALT counts around. This is mainly due to that new local high on the MACD in the micros.
I have also included on this chart, the primary/macro fibs in yellow. As you can see price has run into the 0.618 and been rejected twice. This is a very strong fib resistance that will soon be flipped to a strong support level if we can breach it. We either do that tomorrow or fall back down for the c wave that is labeled by the yellow box / turquoise count. For now, we continue to wait for confirmation one way or the other. Trend changes require patience, and I am not rushing to take any large positions at this time.
Bonam Fortunam,
--Tyler
I have also included on this chart, the primary/macro fibs in yellow. As you can see price has run into the 0.618 and been rejected twice. This is a very strong fib resistance that will soon be flipped to a strong support level if we can breach it. We either do that tomorrow or fall back down for the c wave that is labeled by the yellow box / turquoise count. For now, we continue to wait for confirmation one way or the other. Trend changes require patience, and I am not rushing to take any large positions at this time.
Bonam Fortunam,
--Tyler
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
