US30 Next Week Analysis

20 ago 2021

With today's slow moving market we did not make it to overall TP area. With that said we still have room for a small move up to our TP area, even moving pass our initial TP area. New TP area will be between 35228 and 35407 with concentration at 35262 area.. A break and hold above 35262 will potentially put us at 35407 at which point we can return short to the yellow dash line area... We have to get out of this consolidation we are currently in to determine our over all short TP area. First lets see where our long tops out at. Analysis from the 19th put us at our low of 34568 which was also 261.8%. A normal retrace of 261.8% is 76.8%... 35228 will put us at a 61.8% retrace point and 35407 will put us at 76.8% retrace point. Once we arrive at either one of these points we will then know our short destination. Keep in mind right now we are at or near 50% fib... Technically by rule we can retrace from here... (low possibility) I'll know better next week. If that is the case it will be a small retrace... I Have a Great Weekend on Purpose

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