Tuesday, May 09, 2017 6:05:26 PM
what I'm describing is the mathematic technical chart pattern...its mostly about math,Fibonacci targets, Elliott wave counting, and watching technical price action run along mathematic tracks.
as far as finding "reasons" for what price action does.... its obvious from watching the price action, that Somebody, some big money trading powers...DO have a reason to stop the price at 6.17 and Cap it . its obvious there was a reason why the base held so far at 5.50-5.60 like it did.
My chart targets aren't about finding a 'reason' ....the reason is built into the mathematic systems I use as tools. and I'm just showing what that technical chart looks like.
Its possible price wont be taken back down to retest 5.80, but the technical odds favor a move like that. and that's all I'm saying.
hope this helps.
the pullback target zone is 5.70-5.80-5.90 area, in the current picture. the target topping resistance zones were 6.00-6.05-6.10-6.15-6.20-6.25-6.30,in the current subwave rally .
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