Hey everyone,
I'm not trying to predict next movement. I can say neither it goes up nor it fall down.
So, please consider this as a tutorial :
1st question : what is an uptrend exactly ?
Uptrends occur when we see higher high and higher low.
2nd question : when can we say an uptrend is getting stronger ?
When we see upward movements which are larger than their previous movements. For example, in a 12345, 23 should be equal or larger than 1 and 45 should be equal or larger than 23.
3rd question : when can we say an uptrend is getting weaker ?
Of course when it's upward movements getting smaller and weaker continuously.
So, as we can see in the chart, as the time passes, we see weaker and weaker upward movements which is a sign of forming falling trends in the future.
BC = 0.78A, DE = 0.618BC and guess the question mark! XY = ?????DE
If XY can not reach DE's height, we will presumably see a price correction in the future.
Furthermore, on daily chart, we can see divergence in RSI which is a sign of future bearish trends.
Also, you can see easily a downtrend in the volume indicators.
An increase in price along with a decrease in volume is a bad sign for the bull market.
I'm not trying to predict next movement. I can say neither it goes up nor it fall down.
So, please consider this as a tutorial :
1st question : what is an uptrend exactly ?
Uptrends occur when we see higher high and higher low.
2nd question : when can we say an uptrend is getting stronger ?
When we see upward movements which are larger than their previous movements. For example, in a 12345, 23 should be equal or larger than 1 and 45 should be equal or larger than 23.
3rd question : when can we say an uptrend is getting weaker ?
Of course when it's upward movements getting smaller and weaker continuously.
So, as we can see in the chart, as the time passes, we see weaker and weaker upward movements which is a sign of forming falling trends in the future.
BC = 0.78A, DE = 0.618BC and guess the question mark! XY = ?????DE
If XY can not reach DE's height, we will presumably see a price correction in the future.
Furthermore, on daily chart, we can see divergence in RSI which is a sign of future bearish trends.
Also, you can see easily a downtrend in the volume indicators.
An increase in price along with a decrease in volume is a bad sign for the bull market.