THIS IS JUST A MATTER OF TIME (PART# 1)
Referring to my previous analysis, I have put in place of Plan B to buy back, where a further decline in price was rejected below $1765 which is the low of Nov 2020 which is the end of the Balance Chart Approach, as shown in this link (s3.amazonaws.com/tradingview/snapshots/e/ekGf8LM2.png).
In each of my analysis, I also always display the Main Chart above showing my Time Span For The Bullish Period (in yellow column) until May/Jun 2021 and now we are entering the beginning of 2021, that means further bullish determination will be determined on the next 5 or 6 months.
From the chart we have, we see that 2000 Low to 2011 High took 11 Years and 2000 Low to 2008 Low took 8 Years. Thus there are 2 points that I see:
1. For the High Price from the 2008 Low it will take 11 Years To Reach 2019 High (2008 + 11 = 2019) and we see in the chart that 2020 High Is Higher Than 2019 High, means of a Bullish Continuation Sign.
2. For the 2008 Low To The Next Low Is 2016 (2008 + 8 = 2016) and we see in the chart that 2016 Low Is Not Lower Than 2015 Low, means of Longterm Bear Market End.
Why Do I Say That 2021 Is Determination Time ?
If you take a look at my chart approach (//s3.amazonaws.com/tradingview/snapshots/p/porSkXpc.png), we see that Wave #5 started in 2019/2020. So...a Bullish Sign is 2020 High Is Higher Than 2019 High, and the next at least the 2021 High Must Be Higher Than 2020 High For The Next Bullish Continuation, because if not then I estimates that it will happen with The Corrective #B which is estimate Started In 2021 (if 2021 High is lower than the 2020 high).
This is a historical chart shown by the price patterns that I am currently waiting for (//s3.amazonaws.com/tradingview/snapshots/y/yqZsru1p.png)
Will the Mini Launch-pad Pattern be able to break through the $1965 ?
Who Knows ?
ooOoo From The Desk Of NewBie ooOoo
In each of my analysis, I also always display the Main Chart above showing my Time Span For The Bullish Period (in yellow column) until May/Jun 2021 and now we are entering the beginning of 2021, that means further bullish determination will be determined on the next 5 or 6 months.
From the chart we have, we see that 2000 Low to 2011 High took 11 Years and 2000 Low to 2008 Low took 8 Years. Thus there are 2 points that I see:
1. For the High Price from the 2008 Low it will take 11 Years To Reach 2019 High (2008 + 11 = 2019) and we see in the chart that 2020 High Is Higher Than 2019 High, means of a Bullish Continuation Sign.
2. For the 2008 Low To The Next Low Is 2016 (2008 + 8 = 2016) and we see in the chart that 2016 Low Is Not Lower Than 2015 Low, means of Longterm Bear Market End.
Why Do I Say That 2021 Is Determination Time ?
If you take a look at my chart approach (//s3.amazonaws.com/tradingview/snapshots/p/porSkXpc.png), we see that Wave #5 started in 2019/2020. So...a Bullish Sign is 2020 High Is Higher Than 2019 High, and the next at least the 2021 High Must Be Higher Than 2020 High For The Next Bullish Continuation, because if not then I estimates that it will happen with The Corrective #B which is estimate Started In 2021 (if 2021 High is lower than the 2020 high).
This is a historical chart shown by the price patterns that I am currently waiting for (//s3.amazonaws.com/tradingview/snapshots/y/yqZsru1p.png)
Will the Mini Launch-pad Pattern be able to break through the $1965 ?
Who Knows ?
ooOoo From The Desk Of NewBie ooOoo
Related publications
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.