Should the top of this candle be taken out, we have a good setup for a LONG Position to 1.68500 - 1.68600 area then I expect a reversal. The yellow arrows are the anticipated Slopes of both moves should the top of this candle (On RED vertical timing line) be taken out. If the market plummets past the low of this candle, you must reverse position as the move has inverted.
Thanks again
TIK
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Timing_is_key
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Update: The Market had a decisive break below the RED CANDLE so the long trade was invalidated. It came back to Re-Test @ 61.8% before dropping into a Nice PIN Bar on the 25% Level. Notice what happened when the market reached the downward sloping Purple Reaction Line ( Downward Sloping Yellow Arrow ). It followed it down into the yellow vertical Timing Line Perfectly! At this point we have 3 Ducks in a Row for a Long 1. A Reaction at the purple Diagonal ( A Break of which will give you a reversal ) 2. Resting on the Powerful 50% Proven Support Level & 3. My beautiful Yellow Vertical Timing Line. A VERY LOW RISK LONG!
PS: I also have 2 black dotted vertical timing lines which pinpointed the ultimate Topping Formation.....A little difficult to see but was a good exit on that trade!
PS: I also have 2 black dotted vertical timing lines which pinpointed the ultimate Topping Formation.....A little difficult to see but was a good exit on that trade!
Sincerely,
TIK