Wednesday, November 2, 2016

Where I think the current price action is bounded UPDATED


UPDATE!  It's being tested at the moment.  I hope it holds or I will lose an annoying amount of money today.



The red lines.  These lines don't converge until 2017, but I don't think they will make it that far.  I guess this is actually a bullish formation, but on that note, the blue lines are a bearish formation.

I think the impending election can keep the price in this zone and maybe break out after, depending on who wins, which is going to be Trump, with a high probability, so it will probably break downwards.

I think the touch on this line is the "turning point" for this week.  It might still go lower, as this line is descending slightly. 

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