Hi All,
Price has hit the goldern ration, 1.618 and hence a strong selloff.
However we don't have confirmation and since the trend is with the bulls, what are we waiting on?
With my indicators, I'm looking for the following:
a) Bearish divergence with the WT indicator on the daily;
b) Bearish divergences on the 4 hrly and possibly the 1 hrly;
c) Looking for the green rsi to hit 50% and the grey below 50% on the daily;
All these will give us a strong signal that this is wave 3 of the macro elliot wave and the start of wave 4 which can be complex or straight forward with an ABC wave.
Just to demonstrate what we are potentially looking at. Ignore wave 5 as its a place holder.
At this point, the 1.618 makes a good case, and we saw basically 4 impulses to get there. So it is looking like that this is the top however as stated, we are not done yet as we need those 3 conditions.
All the best,
S.SAri
Bearish Divergences this year on the macro level
Price has hit the goldern ration, 1.618 and hence a strong selloff.
However we don't have confirmation and since the trend is with the bulls, what are we waiting on?
With my indicators, I'm looking for the following:
a) Bearish divergence with the WT indicator on the daily;
b) Bearish divergences on the 4 hrly and possibly the 1 hrly;
c) Looking for the green rsi to hit 50% and the grey below 50% on the daily;
All these will give us a strong signal that this is wave 3 of the macro elliot wave and the start of wave 4 which can be complex or straight forward with an ABC wave.
Just to demonstrate what we are potentially looking at. Ignore wave 5 as its a place holder.
At this point, the 1.618 makes a good case, and we saw basically 4 impulses to get there. So it is looking like that this is the top however as stated, we are not done yet as we need those 3 conditions.
All the best,
S.SAri
Bearish Divergences this year on the macro level
Note
I see a new high coming this coming week but before that, possibly low 22k.Note
Note
sometimes we get caught up in the moment. Lets look what's happening on the bigger time scale, 6 months and yearly...No doubt, we are going to the moon.>LOL.
Note
Note
so farNote
Note how the edge of the fan became the pivot point to push the price up rather than down...this is significant.
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.