33.33% closer to history

151 4 6
I did a simple calculation based on market top in 2007 using a weekly chart. After the uptrend line was broken, price fell 9.25% away from the uptrend line below rebounding to re-test the support-turned-resistance trendline .
The bullish marubozu bar did close above the trendline but next weekly bar was a DOJI closed below the trendline - not good. And subsequently a bearish marubozu bar which resulted in an evening star pattern. The rest is history.

Now we are again 1/3 very identical to 2007 top again. We just had a weekly bullish bar close slight right above the uptrend line which is why i said we are 33.33% closer. If next weekly bar is a DOJI with a close below that trendline (from 2009), then we would have 66.66% closer to repeat of history.

It would be even exciting next two weeks, i GUARANTEE you!

Also note the 3 tops formation. similar as well do 2007 and 2011. Add the RSI divergence, the decrease VOB, the complacency/hope into new year, the fact it climbed 100% in 3 years. Santa Claus Rally wont happen and it has a decent chance to be ugly.
True, after broken down from a long term uptrend line, the bulls are surely not convince and would like to try another time... and if it fail big time...
You know what is gonna happen next, having said that, just beware another weekly of spike to hit that horizontal resistance
Well done - I think that is the way to look at it.
Fingers Crossed, have a good weekend! :-)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out