Repeating Bearish Patterns
We are in a correction with a first wave leading to an uptrend.
Based on fibonacci extension we have a possible move to 1.9520 area, when those areas are met, I'd be expecting retracment above 61.8 levels on Fibonacci retracement once we find the top of the peak, from there look for M shape double top reversal.
Once those areas are noticed, then another downtrend ABC pattern to the downside, which should be greater then the upside, being that we are in a bear market.
Allow the market to play out, this is my game play for last day of trading.
Happy Hunting.
Based on fibonacci extension we have a possible move to 1.9520 area, when those areas are met, I'd be expecting retracment above 61.8 levels on Fibonacci retracement once we find the top of the peak, from there look for M shape double top reversal.
Once those areas are noticed, then another downtrend ABC pattern to the downside, which should be greater then the upside, being that we are in a bear market.
Allow the market to play out, this is my game play for last day of trading.
Happy Hunting.
Comment:
Just had a failed impulse pattern to the upside, expect downside to begin earlier than expected, trade with caution,
Comment:
Pattern failure to down side, after looking at the bigger charts, there is a high chance that we are about to go into a trend change and bulls are coming back soon