Monthly MACD is coming soon to a cross, comparing it to 2014, real selling only started then and you can also see that if you look at the colored volume bars. Stoch RSI has running bottom for a long period in 2014 so being at the bottom doesn't mean too much historically speaking. The time prediction also seems to align with the coming together of the bottom and top trendline in 2018. We will see whether it will repeat or not, it's just a scenario.
I will also make a bullish scenario, to have a neutral outlook if the market suddenly changes trend. Always have a plan A & B, know your risk management and don't forget to take profit!
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Trade active
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Trade active
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Come back in October-November, BTFD. Monthly bear coming to play now.
Hi. Thanks for your charts and sharing your ideas. Nice charting! IMO I see the daily triangle as bearish and still in play while recent weekend lows hold and expect the market to advance in wave in wave E of the triangle before breaking down; alternatively I see the market breaking down sharply if we hold below 6628. I always enjoy your charts and look forward to your post. While I am starting to scale in I feel there is good probability we could break down; so saving some dry power. Good luck trading.
Here is my weekly chart with link to my 25 April 2018 post to full thread and recent updates if you are interested:
Daily Chart - Triangle:
TheTrex
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@tuamen, Dont you think its better to draw the triangle based on 3 points? The d point is not sure yet, and if you draw from c - b, that line already broke. Will be a weak triangle wave then, doubt it will even surpass 7500