A possible Adam and Eve pattern might occur. Also, a fractal indicating as such. However, the pattern will only be confirmed after the candle closes above the confirmation level.
Special thanks to my friends in discord for pointing the pattern out as a part of a discussion.
This idea incorporates levels and fibs, the probibillity of bouncing back down from the 78.6 fib is higher due to minute downtrend line intersecting at the fib. However, Strong support is present at the zero fib, which is also a level.
Simple but profound the Idea of Occam's Razor as sated by Isaac Newton : "We are to admit no more causes of natural things than...
Before reinforcements arrives the spaceman and his bull flag will be hibernating on the red planet before launching to Titan.
The idea is indicating a downtrend continuation, as we were unable to make a higher high.
We might be looking to go up for a bit, as you can see a complete wave count is given in the chart. If we break though the first target point, in the current move or in the B wave (resulting from the A-B-C correction occurring from this move up), that would confirm a bull trend in my humble opinion.
Current Analysis is based on Elliott wave principle, Fibonacci...
Elliot wave 5, about to begin.
“The Pythagoreans were probably the first to recognize the concept that the basic forces in the universe may be expressed through the language of mathematics.”
― Mario Livio, The Golden Ratio: The Story of Phi, the World's Most Astonishing Number
A very important pattern is playing out called the Bearish Gartley. Elliot waves have a way of creating long tread patterns. Do not focus on the exact points, but see the patterns that are going to be played out with the respected fib levels.
“Humans are pattern-seeking story-telling animals, and we are quite adept at telling stories about patterns, whether they...