I've been watching these couple patterns since DJI crossed above the PRZ of the bearish Gartley I'd been watching for months(so about a month). So far, they seem to be helping to weigh the price down. The most obvious targets based on the patterns outlined with yellow horizontal lines, and the green rectangle being the zone that I start considering buying and/or entering long positions.
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Although it's nice to see bearish momentum so shortly after posting the bearish chart, I'm not fully convinced that was the top just yet. When I posted it, I was expecting it to top off a little bit above 295 rather than a couple bucks below. As long as 287 holds, I'm neutral in the short-term. Bearish enough if in the medium-term that I'd feel comfortable shorting below the top yellow line though.注释
Correction... That chart was the sum of the indices minus the price of bitcoin(which leaves a lot of room for bitcoin to rise before that chart hits the horizontal support). The chart for the sum of the indices, disregarding bitcoin, is in a quite similar position resistance-wise though. Here's a short-term chart for SPY while I'm at it too. Bearish bat pattern just barely not invalidated yesterday. And the chart I meant to post in the previous comment
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Obviously the dead cat bounce had more power than I was hoping, but in my YouTube video I did explain in more detail that if the bearish bat didn't stop it, it was likely to do what it did. Aside from the short-term bearish gartley on SPX that has already proved it's significance, there's the this chart that shows it's potentially topped perfectly at the .786, already overbought above where I had been pointing out bearish divergence on twitter.
Then there's my "Sum of the American Indices divided by the price of bitcoin" chart too... broke down from a falling wedge recently. (see related ideas)
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