Cable analysis based on seasonal data
When looking at this chart, I ask 3 questions:
1). Bias = What trend are we currently in?
- Downtrend, P2
2). Are we following a seasonal pattern?
- Yes, 20 years pattern
3). What does this mean?
- Seasonals show us a move to the upside, but we are in a downtrend so this is a P2
- Seasonally we expect a market high around 31/01 before a move lower, this could be around the monthly pivot point as previously highlighted for other P1's
1). Bias = What trend are we currently in?
- Downtrend, P2
2). Are we following a seasonal pattern?
- Yes, 20 years pattern
3). What does this mean?
- Seasonals show us a move to the upside, but we are in a downtrend so this is a P2
- Seasonally we expect a market high around 31/01 before a move lower, this could be around the monthly pivot point as previously highlighted for other P1's
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.