Just a quick plot based on Fits and EW.
Stocks have been tumbling globally.
Probably not a good time to look for longs.
But maybe this plot will help look for shorts?
At the very least, this study will help gauge the bull power or how much remains.
If it rushes to the thick red zones, that is a pretty good sign.
If it does not even reach the 3.618 (thin red zone) that is a bad sign.
Stocks have been tumbling globally.
Probably not a good time to look for longs.
But maybe this plot will help look for shorts?
At the very least, this study will help gauge the bull power or how much remains.
If it rushes to the thick red zones, that is a pretty good sign.
If it does not even reach the 3.618 (thin red zone) that is a bad sign.
Note
Friday's Asia/UK sessions buying got clobbered by the US marke, and thus a local double top and triangle US market now on holiday so not much movement expected until next week.
Trade closed: target reached
Both Targets hit almost exactly! Note
Interesting behavior at this zone Close up of price action around my zones
the Golden Ratio is my Religion
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the Trading View is my Nation
the Moderator Tag is my Flag
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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.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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.