THIS CHART IS A SYNERGY OF TIME AND PRICE, so it's probably correct lol
In the lower pane we can clearly see RSI is in a nascent uptrend, ipso facto: bullish divergence.
I have shown before that from the corona low to the ath, we have hit a reversal point on the pitchforks and done a perfect 50/50 Gann retracement: circa 20 months up, 10 months down to hit the 50% retrace- where we currently reside.
Most major moves are 6 pivots, which i have labelled here 0-5.
We can see the primary downtrend (red Andrews fork) has been rejected.
All that remains is to reject the secondary downtrend (red pitchfan, trigger line).
What i would envisage here is a move to 4100, one last rejection of the major downtrend: a pullback to 3800 or so for a higher low
Then the trend change in around 6-8 weeks time: where we finally break the major downtrend and set a higher high
We should be around ATHs in Q1/2 next year
After that no idea what happens
This all coincides with the dollar topping out here
GRI 2022
NOT TRADING ADVICE
In the lower pane we can clearly see RSI is in a nascent uptrend, ipso facto: bullish divergence.
I have shown before that from the corona low to the ath, we have hit a reversal point on the pitchforks and done a perfect 50/50 Gann retracement: circa 20 months up, 10 months down to hit the 50% retrace- where we currently reside.
Most major moves are 6 pivots, which i have labelled here 0-5.
We can see the primary downtrend (red Andrews fork) has been rejected.
All that remains is to reject the secondary downtrend (red pitchfan, trigger line).
What i would envisage here is a move to 4100, one last rejection of the major downtrend: a pullback to 3800 or so for a higher low
Then the trend change in around 6-8 weeks time: where we finally break the major downtrend and set a higher high
We should be around ATHs in Q1/2 next year
After that no idea what happens
This all coincides with the dollar topping out here
GRI 2022
NOT TRADING ADVICE
