Suspect is a small bear wearing a red hat and a blue duffle coat
As expected, we have breached many important levels: 9450 (61.8% from 3000 to 20000), red WXYXZ down channel and 9300 neck line that confirmed Double Top.
1) We're in an ABC down channel now with target 6800 (2500 down from the neck line).
To reach that level we will have to break 8200 (61.8% correction from 6000 to 11750) and 8000 (61.8% yearly)
Our Target1 is 7250 (1.272 of wave A). We may break 7000 and retest 6000 from there.
2) We are now correcting upwards to 9100 and will likely continue moving down from there.
We may try to form a local bottom around 8200 (61.8% correction from 6000 to 11750) and move up to retest the green upper channel of the down trend, the red upper channel of WXYXZ and break the 9300 neck line upwards to temporarily invalidate double top (i-ii-iii-iv-v green count). Chances are slim, there are lots of sellers, but it's possible.
Remember, Paddington, being a remarkable bear, is not after the profit, he just wants to get his aunt Lucy a birthday present. If we are kind and polite, the world will be right.
So, it's time to be bear, It's time to lose the ring in your nose and cover your horns with a thick bear skin of some trophy bear that you have previously killed and skinned. And then go find some cave for shelter. And it's very important to smell like a bear too. And then you wait. You don't need fish. There's plenty of meat out there - dead bulls are lying around scattered all over the place after the slaughter. You just pick them one at a time #fishbucketchallenge. When in the forest take precautions: use long sticks with bear paws, walk backwards in your own tracks, cross rivers and break some branches on trees as if you tried to climb them. Avoid hunting trails and you'll be fine.
Good Luck!
Please don't trade based on my analysis only. This is not a financial advice. I'm not responsible for possible losses.
1) We're in an ABC down channel now with target 6800 (2500 down from the neck line).
To reach that level we will have to break 8200 (61.8% correction from 6000 to 11750) and 8000 (61.8% yearly)
Our Target1 is 7250 (1.272 of wave A). We may break 7000 and retest 6000 from there.
2) We are now correcting upwards to 9100 and will likely continue moving down from there.
We may try to form a local bottom around 8200 (61.8% correction from 6000 to 11750) and move up to retest the green upper channel of the down trend, the red upper channel of WXYXZ and break the 9300 neck line upwards to temporarily invalidate double top (i-ii-iii-iv-v green count). Chances are slim, there are lots of sellers, but it's possible.
Remember, Paddington, being a remarkable bear, is not after the profit, he just wants to get his aunt Lucy a birthday present. If we are kind and polite, the world will be right.
So, it's time to be bear, It's time to lose the ring in your nose and cover your horns with a thick bear skin of some trophy bear that you have previously killed and skinned. And then go find some cave for shelter. And it's very important to smell like a bear too. And then you wait. You don't need fish. There's plenty of meat out there - dead bulls are lying around scattered all over the place after the slaughter. You just pick them one at a time #fishbucketchallenge. When in the forest take precautions: use long sticks with bear paws, walk backwards in your own tracks, cross rivers and break some branches on trees as if you tried to climb them. Avoid hunting trails and you'll be fine.
Good Luck!
Please don't trade based on my analysis only. This is not a financial advice. I'm not responsible for possible losses.