The market retraced precisely to 61.8% which was at $11,132 - I now anticipate a push towards $17,415 - which is 61.8 retracment of corrective wave. (IF bulls weaken at this area it may reverse and expose itself to a potential Gartley pattern - will be updating)
Market pushed through down trend and now is moving steadily towards resistance $17,570
@entropy35, After analyzing the initial analysis it seems as through the $17,415 was an estimated range as there is a resistance level at that price range ($17,464) Additionally I was anticipating the market to weaken at this point because of a potential Gartley pattern, to find this out we take fibs of wave A-B. (A= $20,123.00 & B=$10,962.00) The 61.8 RT level lies at $16,622.
$17,415 was simply a number to gauge price action prediction.
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