Dark knight rises
Based on my analysis: I think the bull up move is now compromised. In my previous idea, I've drawn a tight range (channel) where the price was orbiting. It is a ceiling in fact, a real resistance zone.
I think there is 15-25% chance that the price will keep on going up strongly. It's really pessimistic in my opinion. Let me tell you why.
Point 1: (BULLS score +1) :
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In the S4W Mirror indicator, the last green hill is still above the current running red hill. but how long will it last? Not that long I think.
Point 2: (BEARS score +1) :
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a) There seems to be a large head and shoulders pattern that is forming. I've put some circle on graph to show it. that is really early to tell for sure though, but it'll be a flat pattern if it would occur.
b) In my previous idea, I was describing a local forming head and shoulders pattern. This one seems to still be forming. But price must move up to 6550 then drop again. In that case, we will face a price drop to 6K or even less.
Point 3: (BEARS score +1) :
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Look at the box I've drawn in the S4W Horizon indicator:
a) The orange line finally moved above horizon (above zero)
b) Yellow line crosses under the purple one, and the purple one is thick and descending regularly.
c) point 3/a and point 3/b are occurring nearly at the same time, which has potency for a price reversal.
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Guys take this has a PRE-Analysis. I just wanted to show you the market temperature to my opinion. The dark knight of bear rises!
Price will go up a bit first, it's the key-point to the forming patterns. but if the S4W Horizon indicator has more weight than I thought, the price should drop down fast, even before reaching the last shoulder level (6550). Time will tell
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PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
Based on my analysis: I think the bull up move is now compromised. In my previous idea, I've drawn a tight range (channel) where the price was orbiting. It is a ceiling in fact, a real resistance zone.
I think there is 15-25% chance that the price will keep on going up strongly. It's really pessimistic in my opinion. Let me tell you why.
Point 1: (BULLS score +1) :
--------------------------------
In the S4W Mirror indicator, the last green hill is still above the current running red hill. but how long will it last? Not that long I think.
Point 2: (BEARS score +1) :
--------------------------------
a) There seems to be a large head and shoulders pattern that is forming. I've put some circle on graph to show it. that is really early to tell for sure though, but it'll be a flat pattern if it would occur.
b) In my previous idea, I was describing a local forming head and shoulders pattern. This one seems to still be forming. But price must move up to 6550 then drop again. In that case, we will face a price drop to 6K or even less.
Point 3: (BEARS score +1) :
--------------------------------
Look at the box I've drawn in the S4W Horizon indicator:
a) The orange line finally moved above horizon (above zero)
b) Yellow line crosses under the purple one, and the purple one is thick and descending regularly.
c) point 3/a and point 3/b are occurring nearly at the same time, which has potency for a price reversal.
-----------------------------------------
Guys take this has a PRE-Analysis. I just wanted to show you the market temperature to my opinion. The dark knight of bear rises!
Price will go up a bit first, it's the key-point to the forming patterns. but if the S4W Horizon indicator has more weight than I thought, the price should drop down fast, even before reaching the last shoulder level (6550). Time will tell
-----------------------------------------
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.