As portray on previous post, Lower high 2 was formed at the expected area (failed to move above MA200)
General sign of continuing bearish trend:
-Lower Low 2 fail to retrace 0.75 fibonacci retracement of Line B
-Moving under MA200
-Candlesticks under ichimoku cloud
Currently forming - Line C , which is supposed to form Lower Low 3 (LL3), is expected reach area around 33X, 1:1 expectation of downtrend Line B.
taking a look closer within line C being formed,
1. Line b is steeper and larger in magnitude compare to line a
2. the first retracement(blue): 0.5fib of line a
the current retracement of line b is at 0.318fib of line b (weaker retracement)
expect downtrend to continue, expectation of 1:1 of line b to be met after the current retracement is done
General sign of continuing bearish trend:
-Lower Low 2 fail to retrace 0.75 fibonacci retracement of Line B
-Moving under MA200
-Candlesticks under ichimoku cloud
Currently forming - Line C , which is supposed to form Lower Low 3 (LL3), is expected reach area around 33X, 1:1 expectation of downtrend Line B.
taking a look closer within line C being formed,
1. Line b is steeper and larger in magnitude compare to line a
2. the first retracement(blue): 0.5fib of line a
the current retracement of line b is at 0.318fib of line b (weaker retracement)
expect downtrend to continue, expectation of 1:1 of line b to be met after the current retracement is done
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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.
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.