🎲 A Tale of Two Timeframes Once upon a time the title said two timeframes but there was actually three.
The end.
Chart on the left:
a monthly chart, showing the DMI contracting to bull x. HMA shows price above both supports (1 @ 4072, the other @ 3791) and also pending bull x.
red box showing upsides based on 1M ATR from current low (3914). Assuming current low is not broken, upsides feasible without extension on atr could reach to 4295. The last 4 months have avg'd roughly 96% of their respective atr readings. Highest extension being 119% and lowest being 85%.
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Chart embedded in the middle:
Wkly chart showing next cycle on hma as bearish, and though dmi is still in bull x, no higher high on buy pressure (di+) despite current high of the week (4180) being roughly 257pts north of last high on di+ (@ wkly close of 3923) is a technical bear div.
Chart on the right:
8h chart showing current price below hma rt @ 4098, and slightly above the 200 @ 4065, and hma sup @ 4043. Next cycle on hma is bear x, as is the dmi.
Upside pivs feasible within the 1M atr noted near the red x ( emphasis on 4210 - 4221 for potential fomc vola pump) . 4228 would be the gap close, with 4275/4288 as next legs upside, once the wkly/1d cycles up.
Downside pivs between 4019 - 3905 noted near the green x. Monthly is bully but current pa well off of sup and wkly/8h/4h cycles are all pending bear.
Anticipate downside before monthly continues cycle up.
Read that again.
Above statement is neither a call for ATH or ATL... temper yourself.
Appreciate the risk.
