1-> 5 : classic flow of lower highs and lows
2 : a support is found for a minor pullback, major
volitility ensues from number 3 and we push through the former
support
5: there is a potential that this is now a resistance
what do I think will happen :
- dow theory : lower highs and lows = downtrend
- elliot wave : we are at the fifth wave and can expect a strong
reaction for the next leg down which should occur in 3 minor waves
* according to zone trading, over past 2,500 candles, if price closes
below a zone , there is a 73% chance it will go to the next zone below,
this really helps our bearish case and the potential for price to not close
above 3
* we also have a hidden (continuation) bearish divergence, on mfi and rsi , which is the stronger of the two divergences ( normal and hidden ) as it is on trend.
2 : a support is found for a minor pullback, major
volitility ensues from number 3 and we push through the former
support
5: there is a potential that this is now a resistance
what do I think will happen :
- dow theory : lower highs and lows = downtrend
- elliot wave : we are at the fifth wave and can expect a strong
reaction for the next leg down which should occur in 3 minor waves
* according to zone trading, over past 2,500 candles, if price closes
below a zone , there is a 73% chance it will go to the next zone below,
this really helps our bearish case and the potential for price to not close
above 3
* we also have a hidden (continuation) bearish divergence, on mfi and rsi , which is the stronger of the two divergences ( normal and hidden ) as it is on trend.
Join our public discord : discord.gg/hUUhRKByFt
To access my premium indicators , including unrestricted usage of public indicators ( all timeframes ) : whop.com/chaos-theory-indicator-s-5/?store=true
To access my premium indicators , including unrestricted usage of public indicators ( all timeframes ) : whop.com/chaos-theory-indicator-s-5/?store=true
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join our public discord : discord.gg/hUUhRKByFt
To access my premium indicators , including unrestricted usage of public indicators ( all timeframes ) : whop.com/chaos-theory-indicator-s-5/?store=true
To access my premium indicators , including unrestricted usage of public indicators ( all timeframes ) : whop.com/chaos-theory-indicator-s-5/?store=true
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.