PRICE WAS AT 3100 THAT TIME & RALLY +12% TO HIGH 3475 ON AUG.*INDY WEEKLY CHART UPDATED TODAY 6 SEP:
WE'RE STILL LONG BULL FOR INDY, SLOW BUT SURE INDY IS GOING TO BREAK ALL TIME HIGH 3600.QUESTION IS INDY GOING TO BREAK IT DIRECTLY OR NOT?
1ST SCENARIO:
CURRENT WAVE LABEL AS REBOUND "WAVE b" (blue colour), TARGET AROUND 3350-3400. AFTER THAT IF PRICE BREAKDOWNS 3150, THEN INDY WILL PULL BACK TO "WAVE c" (blue colour) AROUND 2800-3000. IF THIS HAPPENS, IT WILL BE A VERY NICE SUPPORT TO BUY MORE BEFORE INDY BREAKS 3600.
2ND SCENARIO:
ONLY WHEN PRICE MANAGES TO BREAK 3475 DIRECTLY, LOW 3150 WILL BECOME ALT WAVE B (green colour). IN THIS CASE STRATEGY BHSH (BUY HIGH SELL HIGHER) CAN BE USED BECAUSE PRICE WILL MOST LIKELY BREAK 3600 AS WELL.
