[Summerset]

After closing longs averaging 2938, we have stood down Eurodollar the past 2 weekly sessions, for clarity. And in anticipation of 2865 levels to be seen.

Closing out of 2936 was a pre-mature mistake. As it turned out with last week's close @ 3170. The week before that, the last bull candle was not even contested to 61.8% of its fib value.

Furthermore last week's candle has hammered on the 50% AR of the weekly fork. (See attached chart below).

The fork Analogy remains the same. As outlined in the PDF above, and further to it, with last week's close, weekly candles are now rigidly supported on the neckline of the past inverted double top / W-bottom formation frequently spoken of in the PDF. (see chart below).

The weekly fork itself has been confirmed valid, by symmetry in inverted H&S pattern, together with the current inverted double top. Both of which have successively rectified this weekly fork's lower & central medians. (Again see chart bellow for this symmetry).

Consequently the coming target for the broken neckline of the inverted double top (w-bottom) is 3270-80 (See chart below).

Most important, a 3rd test of the "rectified" weekly fork's central median is about to ensue <3440>. This is a basic intermediate trend move on which we must capitalize.

Our bias is that a fall back to To 3000 levels (opportunity to load longs at lower levels), has been ruled out.

Why ?

Because a break of the neckline of the W-bottom, takes price measurement to 3270-80. Last week's close has proven that price is definately and finally done with falling back on & re-testing of the neckline support, (which has been going on for the past 5 weeks). Having bounced out of this modual platform, the next modual is a confluence between the 50% fork AR, together with the broken neckline measured price target. (see Chart below).

Further, our bias is for price to find support on this confluence zone <3240-70>, & re-test the fork ML. <3440>.

As its established that lower levels will no longer be seen. And to quickly capitalize on the coming advance. Recommend to long early next week <3124-43> level. Keeping stops below 3110, as far as 3089. Target 3270 (liquidate 50%), & add 50% longs between <3230-3190>, to continue riding longs to 3430. (liquidate all).

Profitable trading to All.