It took 2436 days for the 2017 highs in October to find a bottom and then reach a new high. If history is to repeat itself, we are on a cusp of another breakdown here.
In support of this idea:
-The price has reached the resistance/prev support levels
- Has reached and began to pull away from the 'Top Trend' (as show in the snapshot provided)
- Weekly Stoch RSI looks ready to tumble down
-DXY looks to have reached its bottom and can see growth for the next few weeks
https://www.tradingview.com/x/xpjrSpBm/
In support of this idea:
-The price has reached the resistance/prev support levels
- Has reached and began to pull away from the 'Top Trend' (as show in the snapshot provided)
- Weekly Stoch RSI looks ready to tumble down
-DXY looks to have reached its bottom and can see growth for the next few weeks
https://www.tradingview.com/x/xpjrSpBm/
Note
Note
Clear weekly RSI divergence - Note
Looking at the 4hr chart and you can see that it has broken out of the top trend resistance and carried out a perfect retest for confirmation - Note
Been messing around with EWTs -
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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.
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.