Continuing off from the previous post:
Observations:
- Still in the downtrend channel both in macro and micro level
- Volume weak
- H&S formation within the pennant - drop equals height of head or height of pennant.
- Confluence with some trend lines.
- Possible bounce off 7200 (have 7385 as min. target) last bounce before we are headed down (we usually see 3 impulses before breakdown further.
- Stochastic can indicate bounce with slight bullish Hidden divergence
Hidden Bullish div.
Key area to watch
Notice a pattern, on trend line impulses?
Previous post
Observations:
- Still in the downtrend channel both in macro and micro level
- Volume weak
- H&S formation within the pennant - drop equals height of head or height of pennant.
- Confluence with some trend lines.
- Possible bounce off 7200 (have 7385 as min. target) last bounce before we are headed down (we usually see 3 impulses before breakdown further.
- Stochastic can indicate bounce with slight bullish Hidden divergence
Hidden Bullish div.
Key area to watch
Notice a pattern, on trend line impulses?
Previous post
Comment
Comment
Comment
Fractural > If this holds (looking at the RSI), it might be a significant sign of the bottomComment
Micro level...very predicable? 3 impulse wavesComment
Comment
Still bearish signs on the one day >I have the MA on the Stochastics still pointing down.
I have the MA on the RSI over the current level.
My green bar on the chart is my area of interest at this point.
1st target of interest >6500 or 6800 range for a bounce (or bottom)
Trade closed: target reached
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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