Here’s the short term Minor) ranger counts from the last low at 1010.75
1024.00 (14.50 +7.75)
We also have a profound major ranger up price target at 1040.75
On a different chart I show the open apex vector at 1022.00
Not reaching 1010.00 (major ranger count) down price target should create a reversal, back up to 1037.75. I believe we will reach 1010.00, although we must always be prepared in the event we don’t reach 1010.00. major ranger counts are important.
The key level to watch in order to determine immediate direction is 1016.25/1016.75.
We are currently developing a new triangle (from last nights decline) which has an open apex vector from last nights decline at 1023.50, which is the immediate magnetic attraction in the event we don’t trade below 1010.00. Only in the event we trade below 1010.75 within the next 180 minutes is this triangle canceled, which cancels the open apex vector.
new C/T (from the spike up on the close)
Up price Target: 1028.25
Down price target: 1008.00
This pattern extends down to 1005.25
Due to the fact a bounce should occur at 1008.50, the bounce from 1005.25 will be marginal. In the event we don’t bounce at 1008.50 then we look to 1005.25 for the bounce, according to the velocity vectors until 998.50 all bounces are quite marginal
In the event we trade through 1005.25, then we head directly down to 998.50.
Expect a significant bounce back up at 998.50.
1010.00 is a major down ranger count price target. Failure to reach 1010.00 upon nearing the target (we reached 10.75) creates a reversal. It’s still quite early, we should reach 1010.00, but never the less we must keep the back door open until we reach 1010.00. 1008.75 is a key open apex vector. Therefore price action at the open apex vector determines the immediate direction