We are currently in an upwards rally in the markets
With a trend fib being pulled from our larger lows we have a coinciding level of the 50% retracement converging with the top line of our rising wedge which is a bearish pattern (depending on how long this march takes we could meet our golden ratio 61.8% at the top of our wedge creating a yearly double top as a possibility also).....this is purely up to how fast we continue to move higher
We must assume price will continue to respect this rising wedge (which is a bearish pattern which breaks to the downside 65%+ of the time)
If we break out to the upside we can see a 61.8% retrace and grab a nice throw over or we have a blast of scenario and we march to new all time highs we must wait and see
But for now i am expecting a pull back once we hit our 50% fib
With a trend fib being pulled from our larger lows we have a coinciding level of the 50% retracement converging with the top line of our rising wedge which is a bearish pattern (depending on how long this march takes we could meet our golden ratio 61.8% at the top of our wedge creating a yearly double top as a possibility also).....this is purely up to how fast we continue to move higher
We must assume price will continue to respect this rising wedge (which is a bearish pattern which breaks to the downside 65%+ of the time)
If we break out to the upside we can see a 61.8% retrace and grab a nice throw over or we have a blast of scenario and we march to new all time highs we must wait and see
But for now i am expecting a pull back once we hit our 50% fib
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.