We consolidated for 3 months in the red order block before breaking down into the 200s. I think we'll consolidate for 3 months before we break up into the 600s. Before it makes it to the 600s, we'll see a similar wick down to as low as $270 (wishful thinking). I don't think it will get that low, it may not even breach below 300s again.
Point of this chart isn't to show how deep we'll wick down, it is to show we have 2 more months of consolidation in this order block and another month after that to break up. Will be VERY volatile the next few months.
Note: the forecasted bars do not represent exactly where I think the highs and lows of each candle will be. Meant to show the overall direction of the trend.
Point of this chart isn't to show how deep we'll wick down, it is to show we have 2 more months of consolidation in this order block and another month after that to break up. Will be VERY volatile the next few months.
Note: the forecasted bars do not represent exactly where I think the highs and lows of each candle will be. Meant to show the overall direction of the trend.