Here is what we were looking at after our discussion Friday morning:
60min Fri Oct 21st, 11:30am
Market had fallen within an expanding wedge patter; support found at significant technicals - watching black Fib extensions. Waiting to see if pattern holds or breaks - breaking has us watching for retracement / consolidation back to previous technicals.
240min Fri Oct 21st, 11:30am
Taking a look at the higher time frame we can see there is still room to drop back to previous lows seen in Sept. Corrections could see a bounce back to the black s/r, or even the larger purple pattern resistance.
Mon Oct 24th, 8am
We can see the market has broken from the down trend/pattern; lift moves through a target, goes sideways then continues upward: currently almost back to next Fib extension (black) above as well the thick black s/r. Will be watching to see if the market reverses off these, or pushed through to the next technicals,
240
