1. Price was rejected at the significant Square of 9 level. The retest was also rejected higher. According to Gann’s time theory, this 52 day area is a key reversal area but is not confirmed by his lunar theories.
2. Price has tested the next significant Square of 9 level at 1.19880. A break of that level and a break below the 2/1 Gann angle would confirm some bearish momentum down, some key resistance could be seen at/near the 1.85 area.
3. If price continues to move down over the week, then this level (1.173) is probable.
However, the trend is extremely strong so a tight stupid above the open is advised. There is still heavy interest in prices going up. However probability does favor a great risk/reward ratio consider the bearish signals and the overbought levels.
2. Price has tested the next significant Square of 9 level at 1.19880. A break of that level and a break below the 2/1 Gann angle would confirm some bearish momentum down, some key resistance could be seen at/near the 1.85 area.
3. If price continues to move down over the week, then this level (1.173) is probable.
However, the trend is extremely strong so a tight stupid above the open is advised. There is still heavy interest in prices going up. However probability does favor a great risk/reward ratio consider the bearish signals and the overbought levels.
Trade active
1. Price cosolidated at this level but failed to move higher. We now have blown through 5 resistance levels based on Gann's Sq9, target still in play. Trade active
Gann's theory and projection based on time is working. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.