There is always two trend lines to the tops and bottoms of bull and bear channels.
One way is using the wicks and the other way is using the bodies of the candlesticks and they are called the conservative and bullish/bearish trend lines.
The conservative trend line uses the bodies and the bullish trend line uses the wicks.
That being said I am not Bullish at...
I am calling the bottom between 5100 to 5500 with wicking down to 4800 to 4600.
The gray 200 day SMA has historically held the bottom up. It is that simple. Get it. haha.
The red arrows are pointing to the obvious heikin ashi weekly reversal candlesticks that are telling us the next move is downward and the next stop is the 200 day SMA in roughly 2...
1)Usually appears in a downtrend
2) Has a lead-in phase on the left side that appears like a handle of a frying pan; the lead-in phase is commonly a short-term downtrend or a consolidation with a downward bias
3) A large reversed bump that looks like a U-shaped basin is followed after the lead-in phase
4) A period of consolidation, short-term downtrend or small...