You may be thinking that's a lot of lines on the chart but they aren't random. Every line represents the relationship between time and price from a set price and range.
This is the square of the current all time high zoomed in to the current market movement.
The horizontal lines represent price pressure points to watch for and the angles are all set points within the square, I haven't moved them to suit a theory.
What is important to watch here is the market reaction to the thick orange line and the light blue line.
Both of these angles are very important .
If the market can break above the orange line and find support this will signal the return to a .
If the market breaks below the light blue line and finds resistance attempting to come back up it will signal the market to move much lower.
As you can see these two lines are on a collision course by the 15th.
My thoughts are we are headed back to the light blue line for a test around the 12th (red vertical line).
Ian - Aussie Trader