Here's the script. Been drawing it for about ten minutes and it's already being followed so you know it's 100% accurate. Seriously though, inverse maddies, short squeezes, dumps on rallies, fake ups...this zone is just rinse and repeat and it won't stop until we leave it. Personally, I'm don't think I'm going to be taking any positions until we leave this range. My previous 4H chart confirmed a breakout to the upside, but the price action is still telling the same story of uncertainty.
Edit: Just to clarify, when that fractal forecast ends, the price could break down through the fib rather than break up through that resistance trendline. Forgot to draw this on.
I've published this as "short" because we have failed to bounce away from this support level consistently and the bounces are getting smaller and smaller as though we're eventually going to fall through. This chart is overly precise but it does give a good idea of what sort of price action to expect over the coming days - in a sentence: more of the same. Kudos to anyone trying to trade this and happy New Year.
Edit: Just to clarify, when that fractal forecast ends, the price could break down through the fib rather than break up through that resistance trendline. Forgot to draw this on.
I've published this as "short" because we have failed to bounce away from this support level consistently and the bounces are getting smaller and smaller as though we're eventually going to fall through. This chart is overly precise but it does give a good idea of what sort of price action to expect over the coming days - in a sentence: more of the same. Kudos to anyone trying to trade this and happy New Year.
