NEXT MONDAY should be the beginning of another market correction. This might take a whole week to unfold.
Target is $1800-1815. Estimated top: 2020-2030
1. top of wedge
2. should bounce off 200 day MA
3. RSI over bought
Target is $1800-1815. Estimated top: 2020-2030
1. top of wedge
2. should bounce off 200 day MA
3. RSI over bought
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i use a period of 10 days on RSI and its 75. this 14 day one isnt over bought.
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4. Bearish Divergence on the RSI and previous tops.
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target can be as low as 1730-1760
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UPDATE: WAIT for a CLOSED bearish H4 candle on Monday before shorting. and use tight sl in case the top is little higher. i expect top can be as high as 2038!
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I updated my trading plan, its the same but this plan caters for some range markets first. this range is not needed as 2008 crash 3rd leg down did not range. But the general idea is we're near another top. Hard to say exactly where. My nest estimate is 2030-2050.
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*New Estimate
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Potential double top? if u guys going to trade this, sl above 2024 should be good. I still favoring another leg up but this could very well be the top for the month.
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2050 seems likely and the new top. before any potential drop. will consider shorting there.