The rejection from $9400 has shown a continuation to the bearish trend.
The 42% move had many thinking the correction has ended
when it was only an X leg of a Triple combination WXYXZ
Potential target of $5500 in Feb 2020 using Log scale
The 42% move had many thinking the correction has ended
when it was only an X leg of a Triple combination WXYXZ
Potential target of $5500 in Feb 2020 using Log scale
Note
Triple Combination WXYXZ 3-3-3-3-3 pattern (7 points)Note
Channel was moved by mistakeNote
Thinking we might see a triangle here before the last big move down which I think will be more drawn out compared to the rest of the correctionNote
Estimating a relief bounce to 7640Note
Thinking we need to scrap along bottom of channel before bounceNote
Target reached.Looked at my fib retracement again I should of estimated $7662 but close enough :)
Now I think we make that triangle before the last drop before the bull market
Note
Current EstimateNote
Note
Triangle EstimateNote
Feeling my triangle estimate is too compactedAlternate estimate
Note
Current EstimateNote
Current EstimateStill sure we are in a Triple Three combination WXYXZ
Currently in the B wave of the Z.
Looks like the A and B waves of an ABC are finishing
C target looks to be ~$8600-8750
FIb confluence zone meeting with Channel top around $8600
Note
Still my current estimateNot my normal way of placing a Gann fan
but it seem to line well so a good test for me
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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.