Schematic #2.
Must be considered as so, as the SC wasn't tested or broken for an impulse therefore it wasn't a spring. Price action has been seen around the grey areas noted, of which the area represents areas of heavy volume profile in conjunction with volume (extending to January) and the borders themselves being local price levels which action is seen.
Following on from the current price action, a bounce of the grey area below would be a healthy sign of continuation of the schematic, with an SOS in the area above to form a BU/LPS for a breakout.
Locally, price broke out of a symmetrical triangle to from the LPS in phase C and then broke the local downtrend trendline with spike in volume to the area where we are now.
Monitoring closely for a bounce of 37, 37.4, 38.4.
Notable price targets above are 42, 45, 48 and 50 psyche level.
Invalidation of Phase D would commence under the previous LPS of 34.8xx.
Must be considered as so, as the SC wasn't tested or broken for an impulse therefore it wasn't a spring. Price action has been seen around the grey areas noted, of which the area represents areas of heavy volume profile in conjunction with volume (extending to January) and the borders themselves being local price levels which action is seen.
Following on from the current price action, a bounce of the grey area below would be a healthy sign of continuation of the schematic, with an SOS in the area above to form a BU/LPS for a breakout.
Locally, price broke out of a symmetrical triangle to from the LPS in phase C and then broke the local downtrend trendline with spike in volume to the area where we are now.
Monitoring closely for a bounce of 37, 37.4, 38.4.
Notable price targets above are 42, 45, 48 and 50 psyche level.
Invalidation of Phase D would commence under the previous LPS of 34.8xx.
