Later in my post about "The Inside Information Of The Oldest" (https://www.tradingview.com/v/KY0LwuNq/) and "The Inside Information Of The Youngest" (https://www.tradingview.com/v/voO8bYmT/), there are some technical reasons underlying my view point about the tendency of changes in trend with the emergence of The Youngest, there are :
1. The Posture of The Youngest is shorter and smaller than the posture of The Oldest, indicates The Youngest tend to form in the bull market and the Oldest established in bear market.
2. The Oldest formed at the end of Up Trending, and The Youngest found at the near end of Down Trending.
3. Period of time from a bear market to seek the next lower is 1 year, so I assumed in my previous analysis that Jun 2014, the bear market have ended to seek the next lower (June 2013 - June 2014).
4. Period of time from a bull market to seek the next lower is 2 years, where in my previously analysis, I made that June 2013 as a reference point, so the bull market period of time have 9 months remaining ahead from now to seek the next lower. "BUT IF REFER TO THE REFERENCE POINT OF THE INITIAL DECLINE WHEN PRICE WERE AT $1,795,80 ON OCTOBER 2012, AND CONNECTED TO OCT 06, 2014 (AS SHOWN IN THE PICTURE ABOVE), INTERPRETING THAT BULL MARKET TO SEEK THE NEXT LOWER WILL EXPIRE ON OCT 06, 2014.
Actually if Oct 1, 2012 to be the bull market reference point to seek the next lower, then for the 2-year period of time to seek the next lower, at least have expired in end of Sept 2014.
What will be done by The Youngest at this week, whether acting as a continuation of the decline or reversal ?
NFP might be one of the important economic calendar schedule that awaited this week, and Now... I am a waiting for this one, whether my analysis is going right or wrong.
From The Desk Of A Newbie