Fakhoury
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June 16, 2016, 12:18:34 AM

Traders probably need to assess the new market rules before we see any major move beyond 700, but it might take shorter than I thought. Obviously it's all coming from China, but there's nothing much new here...

Care to elaborate more please Smiley ?

Because many traders like to go long at the end of the 4-hour chart correction which is currently struggling a bit to pull its socks up.

In momentum terms, the reason it's struggling is due to an adverse cyclical harmonic in the lower order ranges, specifically the 15 minute range. The rest are not inhibiting to a trend reversal but the 15-minute cycle is.

However, now that I noticed that I also see that the 6-hour chart cycle has started correcting as well, so maybe we've got a day or two of this to go yet.


But isn't the correction is over ? As I see we've started to go up again.