The question is, will this go all the way down to what most people accept, that is the drop=height of descending triangle\pennant?
Will this be the bottom? I don't think so but it will be a good spot to short well.
I am still holding onto a number of scenarios, which I posted in the past.
For now, they are:
a) AB=CD which has confluence with the 0.786 fib. retracement and many other fib. levels. Refer to my previous post on this, below.
I also have seen it on 2 occasions playing out from the top this year and descending. Maybe 1 more time.
b) Based on volume profile (low 6K level) and previous support and resistance levels
c) Based on MA\EMA with 150 and 200 MA as the targets on the weekly chart
Previous posts
Another Macro Trend I posted some time back
EMAs
Will this be the bottom? I don't think so but it will be a good spot to short well.
I am still holding onto a number of scenarios, which I posted in the past.
For now, they are:
a) AB=CD which has confluence with the 0.786 fib. retracement and many other fib. levels. Refer to my previous post on this, below.
I also have seen it on 2 occasions playing out from the top this year and descending. Maybe 1 more time.
b) Based on volume profile (low 6K level) and previous support and resistance levels
c) Based on MA\EMA with 150 and 200 MA as the targets on the weekly chart
Previous posts
Another Macro Trend I posted some time back
EMAs
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评论:
Short here and wait for next opportunity
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This community has signals now but with no risk management comms.
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This community has signals now but with no risk management comms.
