Nasdaq has gone so much up lately and I think it will turn downwards next three years.
Target 1: 3500 (52%) Target 2: 1760 (76%) When: April 2021 and May 2022 / January 2024 Stop loss: Above the resistance arcs.
Arguments: - 2 different Gann Squares says it made All time high last week. - Gann line from the Gann Square is saying the same. - Gann Fan line also says the same. - Elliott Wave Theory fits in.
Forecast: - It will descend rapidly next two-three years. - Target 1 is chosen because of all the different lines and harmonics: Gann lines from different start points, 0.618 Fibonacci level and Gann Arc is located here. The potential from the drop in 2000 is also copied in here. - Target 2 is chosen because of the trend line marked. Here is also a 0.886 Fibonacci level and a different Gann Arc located. - In year 2000 it dropped for almost 3 years continuously. With that in my mind I know what the potential is in this case. Same thing happen on my idea on EOSUSD (Yes, it is a different case no doubt). In other word I think both targets are likely to happen.
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Here is a close-up on the current situation:
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Here is my earlier idea on EOSUSD as I mentioned:
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Things might go faster than expected:
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Pullback! Above the bottom line.
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Testing the bottom line again..
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Some weeks later this is the situation:
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10-year:
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10%
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15%
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Too much up lately?
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Update:
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Update:
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It won't stop rising! This is the last arc:
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Not sure how this will continue regarding the GANN idea, but it is clearly moving downwards currently. Right now it is testing the 50 MA.
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Currently testing the 200 MA. The 50 MA is pointing downwards. It is also testing the support area I made earlier (red box). Look closely on the Fib levels and the Gann lines. I've sketched some possible directions ahead.
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VIX at the moment:
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Look like an older pivot point made it pull back. A quick rise, but will it continue?