Quote from harrytrader:
Just a useful remark: you can see an hour indication associated with the 7556 target which is 32:30 :
16 proj min base: 7711.35 proj: 7556.77 17:00 (32:30)
it means in linear theorical time on my model it should have happen in 32/16=2 days (why 16 because I have noticed that US+Europe is like a single market which trade 16 Hours).
So the low we made Friday was a fake and we turned back quickly to the "normal" target of the day (a normal day is 10 unit of times on hourly scale and 1/2 unit of time on daily scale except when it is consolidation which will need an expanded time chart at the moment this version of chart has not enough length for showing consolidation target) on hourly scale which was 7631/7613 on future/spot (you can see BRK which means break zone, the highest break zone is a very good buying point because it cuts like a knife and stop can then be very tight ):
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This is what I called a forcing phenomena, in fact I have already presented it. On scale 1, forcing implies at least the retest of the forced zone within 24hours and often less depending on the following periods projection.