So I'm finding yet again that I'm adjusting the vector of my black trend lines even steeper and you can see that the overall steepening by comparing to the previous bull vector (black line) to the left side of the chart. This is a bit concerning as it does indicate a couple of things. I usually see the most steepening occur in the final last two big rallies in a blow off top and after this the correction will be fairly severe and two it make me question the overall sustainability of this current rally beyond the target are in the fib chart which happens to be the top of the previous wave. Hmmm... that is a bit concerning. Not to panic anyone but I think many traders will take a fair bit off at the matching top area most likely just below it. What happens next will be very interesting to say the least... just something to think about...
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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.