Re: Arepo's Weekly Newsletter Discussion and Analysis - A WEEK IN REVIEW
I am altogether pleased with the accuracy of this week's report. despite a large bulltrap early in the week, the price action has followed the outline on page 25 nearly to the letter. we witnessed the projected move down to the major support level between $400-$420, reversing in the short-term around $416. then, we slowly drifted back up until reversing again at the $465 resistance, also detailed on page 25.
as always, i'd like to bump this thread with an invitation to any and all new subscribers. the publication still has 12 more issues to go!
---
1-day scale
http://i.imgur.com/9NFCoLN.png
---
here, we can see the moving resistance formed by the last two local highs on the 1-day scale coincides with the "last gasp" bulltrap from late January. this resistance also, incidentally, should coincide with the tip of what looks like a forming wedge. this price point will be extremely important, determing whether we reverse at these price levels and move up to the "bullish correction" targets, also from page 25, or retest the last low and possibly continue the downtrend.
--arepo
as always, i'd like to bump this thread with an invitation to any and all new subscribers. the publication still has 12 more issues to go!
---
1-day scale
http://i.imgur.com/9NFCoLN.png
---
here, we can see the moving resistance formed by the last two local highs on the 1-day scale coincides with the "last gasp" bulltrap from late January. this resistance also, incidentally, should coincide with the tip of what looks like a forming wedge. this price point will be extremely important, determing whether we reverse at these price levels and move up to the "bullish correction" targets, also from page 25, or retest the last low and possibly continue the downtrend.
--arepo