This analysis is for educational purposes only and it is not an investment advice.
Parameters of the chart as shown are :
Box Size : 500 Points, H/L, 3 Box Daily. Coarse chart without a doubt due to the box size selection. This said, we only get counts once a pattern is completed regardless of the box size.
There are more than three counts on the chart which should also be noted. I will only focus on 3. All work is shown on the chart.
Current trend is down since the price action is operating under the influence of a 45 degree down trend line x 2 as shown. Last signal received was a double bottom sell turning the bias to a bear mode after a failed inverse Head and Shoulders pattern on the bar/candle chart ( not shown).
Bullish count is also valid standing against the two bearish counts, until a new low is registered below the count low column which is shown.
Who will win the war , BEAR or the BULL ?
Analysis at The Chart Technician continues.....
Parameters of the chart as shown are :
Box Size : 500 Points, H/L, 3 Box Daily. Coarse chart without a doubt due to the box size selection. This said, we only get counts once a pattern is completed regardless of the box size.
There are more than three counts on the chart which should also be noted. I will only focus on 3. All work is shown on the chart.
Current trend is down since the price action is operating under the influence of a 45 degree down trend line x 2 as shown. Last signal received was a double bottom sell turning the bias to a bear mode after a failed inverse Head and Shoulders pattern on the bar/candle chart ( not shown).
Bullish count is also valid standing against the two bearish counts, until a new low is registered below the count low column which is shown.
Who will win the war , BEAR or the BULL ?
Analysis at The Chart Technician continues.....