By the ongoing process of selling from 1723,weekly close below 1661 means the strong situation of downtrend.
But stop loss must shift to 1661 to hold profit and keep track with the trend.
As W.D. Gann fan indicator,price is reaching the trend line of 1/1=45° from 2075.28.And the price is still in the zone of 1/3=71.25° and 1/4=75° from the lowest price of 252.1.
That zone is between 1828 & 1426 for this month.
W.D. Gann natural & seasonal dates are clear on the way.
By the breakout finder indicator, price break clearly to the 1680.93 level.
By MACD indicator from D,W & M, trend is still down.
By market structure indicator from daily chart,price needs to reach the buy block of 1574.89.
By price action indicator,1661.22 is still pivot.Below 1620.93 will strong downtrend.
For the buyer,over 1695.49 can be hope.The lowest price level to break out this situation is key at 1614.92.
By Tom demark indicator,
Current price is under pivot of 1656.49.The support & resistance is 1698.06 & 1577.81.
By W.D Gann master time,coming 17.10.22 is the 90° trend change date so be cautious to be safe the on going profit.
By analysis of the data from above,1661 is the key level to trend change if so, price will be bounce up from 1621 cause previous 180° is not over.
But trend direction change again to downward,price will test again to 1661 then it will go until 1581.
Thus,we will put stop loss at 1670.77 to be safe from the price movement range for the selling order from 1723.Take profit is still set at 1541.
But stop loss must shift to 1661 to hold profit and keep track with the trend.
As W.D. Gann fan indicator,price is reaching the trend line of 1/1=45° from 2075.28.And the price is still in the zone of 1/3=71.25° and 1/4=75° from the lowest price of 252.1.
That zone is between 1828 & 1426 for this month.
W.D. Gann natural & seasonal dates are clear on the way.
By the breakout finder indicator, price break clearly to the 1680.93 level.
By MACD indicator from D,W & M, trend is still down.
By market structure indicator from daily chart,price needs to reach the buy block of 1574.89.
By price action indicator,1661.22 is still pivot.Below 1620.93 will strong downtrend.
For the buyer,over 1695.49 can be hope.The lowest price level to break out this situation is key at 1614.92.
By Tom demark indicator,
Current price is under pivot of 1656.49.The support & resistance is 1698.06 & 1577.81.
By W.D Gann master time,coming 17.10.22 is the 90° trend change date so be cautious to be safe the on going profit.
By analysis of the data from above,1661 is the key level to trend change if so, price will be bounce up from 1621 cause previous 180° is not over.
But trend direction change again to downward,price will test again to 1661 then it will go until 1581.
Thus,we will put stop loss at 1670.77 to be safe from the price movement range for the selling order from 1723.Take profit is still set at 1541.