Continued Sign of Bearish Trend
-Retracement R3 only reach 0.618 fib of Line C, show much weaker uptrend comparing to the previous retracement R1 & R2 as following:
-R1 retrace more than 0.786fib of Line A
-R2 retrace more than 0.786fib of Line B
- Candle sticks moving below MA 200
- Candle sticks moving below ichimoku
As of now, expect length of double top to be met at 22X. Longer term wise, Expect 1:1 of Line C at Lower Low 4 (LL4)
As of previous post:
-Magnitude of Downtrend Line B much stronger than Downtrend Line A
-Magnitude of Downtrend Line C similar to Downtrend B
Expect 1:1 of Line C at Lower Low 4 (LL4)
-Candlestick currently challenging MA200
-Retracement R3 only reach 0.618 fib of Line C, show much weaker uptrend comparing to the previous retracement R1 & R2 as following:
-R1 retrace more than 0.786fib of Line A
-R2 retrace more than 0.786fib of Line B
- Candle sticks moving below MA 200
- Candle sticks moving below ichimoku
As of now, expect length of double top to be met at 22X. Longer term wise, Expect 1:1 of Line C at Lower Low 4 (LL4)
As of previous post:
-Magnitude of Downtrend Line B much stronger than Downtrend Line A
-Magnitude of Downtrend Line C similar to Downtrend B
Expect 1:1 of Line C at Lower Low 4 (LL4)
-Candlestick currently challenging MA200
Note
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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.