the bearish trend only retrace up max to 1958 above 1958 got too many zones that need to retest it will bearish until 13 June IMO any chance drop to 186x-187x? yes
must wait candle close, but low TF looks super bearish IMO job data very strong = no recession signal the FED will rate hike to force recession
4H reversal with support on 1948 probably retest 1976 first then small rectrace down to 1960 and go to 1982 problem: the wedge pattern not perfect it could sign a bearish pattern again later on bull flag the key here on 1982 area rejection
1948 and 1956 resistance retest 4h candle might close as reversal candle
still waiting for the 1989 retest but it depends on the 1975 rejection or break out right now I can only see the 1963 and 1968 retests I don't know how deep the rejection in 1968 or maybe break out? so I will focus on PA 1968 later
the triangle pattern right now is not a perfect one, so I expect to see PA form a bearish channel later
daily only show 1988 as a possible retest and 4h clearly got a zone above the 1975 to 2004 area if hit above 1988 it will surprise a lot of people
1971 and 1967 support retest 1994 bullish signal to 2004 as for bear scenario I need more analysis I just know 1942 will be next one but as how it will react to 1942 not showed yet
REMEMBER HS pattern and triangle pattern are always 50:50 patterns (coin toss), not reliable patterns to predict the move 1. still under bearish zone 1985 daily 2. 1989 still act as a strong resistance (will drop to retest 1985 support resistance (become support or resistance) 3. if 1994 hit, I will see it as a bullish reversal signal, because 1994 will open 1997...
1989 become strong resistance but the 1994 retest will happen somehow (dunno after drop or before drop)
draw bull flag , should retest 1985 and see if the PA on daily bearish after 1985 retest
bear should retest 1985 today but it failed, Next week maybe the triangle pattern come to play and the double bottom will create a strong reversal the strategy depends on 2017 resistance and 2008 support reversal or not
just wondering if is there support for 2022 or not I still stick with old chart
broadening pattern can be used to determine support retest problem it's not a broadening pattern so trade what u see for now and stick to under 1985 needed as the long-term bearish trend signal but I will add more pattern why it might be a bearish pattern but at the same time, just trade what you see note: it might be reversal from first support, always add sl+
2033 resistance vs 2014 support with 2044 as next target if 2033 broken
need under 1985 for clear bearish signal while daily showed bearish divergence weekly still green, monthly still green daily not clear bearish (need under 1985)
careful with 1983 support retest (possible as long price above 1990) Long term still waiting 195x zone
still neutreal trend with triple bottom ready to break out or double top could become triple top too I draw bull and bear scenario for now