Previous tops characterized by parabolic surge with extreme overbought RSI (arrows). This is the Third Drive; expect another parabolic blowout, followed by an extreme Bearish reaction. This final move will complete a Nenstar pattern and likely usher in a Bear Market for 2021.
A measured move from 3230 -> 3630 of 400 pips, extended to upper TL formed by previous...
Chart says all. Expect pullback to 3390 to fill the gap at the 0.618. Might turn sooner, ofc.
"Bearish Nenstar harmonic, cousin to shark, cypher, bat/butterfly patterns; a Gartley variant. Typically the selloff from pattern completion at D is a .50 retracement"
Just an idea not advice; trade at your own risk, GLTA!
Bearish Nenstar harmonic, cousin to shark, cypher, bat/butterfly patterns; a Gartley variant. Typically the selloff from pattern completion at D is a .50 retracement of the CD leg up. In this case, price would be expected to drop ~150 pips to close the gap at 2864.
Nenstar and Cypher patterns are variants of Sharks. Basic form: C is lower than A. In Bearish...
we can see possible formation of Shark pattern and/or Nen Star pattern.
TP zones are set and can be seen on chart.
Follow price action as it gets near Fibonacci levels, and if pattern is confirmed, watch for price action and watch for EMA50 at TP levels.
Good luck while waiting.
Analyzing the chart that have published a few moments ago
I would like to add a new observation and its about a possible Nen STAR formation.
If the price bounce now, break the resistance in light blue and the black one, could be a clear signal of this pattern, which could lead the...