I constructed a simple trendline to estimate the time during which we will be in recession. I used the level at which governments around the world pumped stimulus money into the world economy as a reference point. My theory is that the market will correct itself to that level (maybe a bit higher) before going into a steady bullish trend.
It would be great to get...
Bullish Indications
1- HH and HL
2- Inside bar?
Bearish Indications
1- Hanging man
2- LH and LL
3- Broken trend line
4- Resistance at 0.382 fib level
5- Triangle pattern
6- Bearish Divergence
Bias: Short
Plan A: Short at 84.16
S/L at 87.91
TP at 83.78
Bullish Indications
1- HH and HLs
2- Piercing candles, bullish candles
3- Support at the bottom trendline
Bearish Indications
1- Inside bar, hanging man at HH
2- Resistance at 110.8
3- Head and Shoulder
4- Bearish Divergence
Bias: Short
Sell at 107.22 (at LH)
S/L @ 110.81
TP1 - 103.63
Units: 55.7
