Well, I don't want to say I've nailed it to the pip so far....but..... ;) let's see if it turns now.
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Well if the pattern's going to hold, we go north from here. My target is 9,800 (not just above 10 as the image shows - clumsy fingers on drawing). Good luck.
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Revised target of 9500, on or about 27th March. Quicker ascent, higher target, slower ascent, shorter target - target being the long term down trend joining 17/12 and 05/03
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Well nice while it lasted, At 8311 now and I'd say any further south and it invalidates our set-up. Shame because I wanted to live in a perfect world. ;)
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All running to plan - moment of truth is around 8845. We are looking for a breakthrough of the upper orange dashed line, then a retest to make sure we are sitting comfortably. If this succeeds then I think we are on our way to target. If it fails, then oh well, we got this far so we were on to something, now on to the next one:) Good luck.
Trade closed manually
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OK so we had a good run with the pattern but now invalid. Heavy resistance above on the line that intersects the cyphers. Think we may need to come down to gain some momentum.
Still on track but struggling at 9. Market seems to want it in my opinion. We keep having another crack. Maybe we go sideways till Monday. I’m not sure that fits with my prediction and still prefer to see a push tonight. Good luck.
Crypt0p0tat0
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I think you are right, It'll go retrace again down to the support channel before rebouncing, I think it's the more logical option. The support channel I drew acted as a support back in october 18, 24, 29, November 12,for the big drop february 5 and for the last rebounce March 18. So I see it going down to 7800 but not more than that. This is the end of the triangle, No other way to go up or down,... I bet up!
@STEVE.elliott, I was just thinking that too, but if it follows the pattern that far then it should also follow the part where it ignores the TL at the push to the log resistance line
Simon111
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@STEVE.elliott, Anyway I will be monitoring it closely :)
cI8DH
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great job, better than mine:
cI8DH
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@hkh222, so far the trendline seem to be very accurate. The top of the red triangle matched the recent high.
kash27
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Your technicals look very good, but the market usually comes down during the weekend. I think we're headed further down over the next few days