Hello Traders,
yesterday, I wrote the following words:
"If not, the index has the possibility to crash to new lows. From my view, I need to see a final "sell-off" in the coming one or two weeks, to clear the market and banish those shaky hands! !"
That is what exactly happened this morning! A CRASH! Shaking off the shaky hands!
The markets are on the verge of being cleaned up! But!!! NOT yet!!!
Chart analysis!
First thing to know. This morning's move and massive gap-down was probably a wave 3. These waves are the most powerful waves during an impulse and (in this case), and they destroy the most gains in some minutes, i.e.hours!
The second possibility is given that we have seen a "V.-turnaround", and the market has seen the low!
To me, the structure is not clear, and I expect one lower low in the coming days ahead below 21743.6!
The most important thing for a trader is, to believe what you see! Not to believe what you like to see!
Following the idea of a wave 3 (which could be done), we should see a wave 4, morph into an a-b-c or a triangle! Keep in mind, that triangles are the most unlikely patterns to see!
Anyway! If so to come, the next hours will show us the pattern, and probably we will get one a-b-c structure! After, i f so to come, new lows are ahead in the following days!
But. If this low was the final low for this crash, the index is able to set the stage and skyrocketing!
For now, there is no fact, to support this idea, and we handle with patient and care!
Don't catch a falling knife!!!
I will follow the market closely and update it constantly!
For now.....have a great week!
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
yesterday, I wrote the following words:
"If not, the index has the possibility to crash to new lows. From my view, I need to see a final "sell-off" in the coming one or two weeks, to clear the market and banish those shaky hands! !"
That is what exactly happened this morning! A CRASH! Shaking off the shaky hands!
The markets are on the verge of being cleaned up! But!!! NOT yet!!!
Chart analysis!
First thing to know. This morning's move and massive gap-down was probably a wave 3. These waves are the most powerful waves during an impulse and (in this case), and they destroy the most gains in some minutes, i.e.hours!
The second possibility is given that we have seen a "V.-turnaround", and the market has seen the low!
To me, the structure is not clear, and I expect one lower low in the coming days ahead below 21743.6!
The most important thing for a trader is, to believe what you see! Not to believe what you like to see!
Following the idea of a wave 3 (which could be done), we should see a wave 4, morph into an a-b-c or a triangle! Keep in mind, that triangles are the most unlikely patterns to see!
Anyway! If so to come, the next hours will show us the pattern, and probably we will get one a-b-c structure! After, i f so to come, new lows are ahead in the following days!
But. If this low was the final low for this crash, the index is able to set the stage and skyrocketing!
For now, there is no fact, to support this idea, and we handle with patient and care!
Don't catch a falling knife!!!
I will follow the market closely and update it constantly!
For now.....have a great week!
Ruebennase
Please ask or comment as appropriate.
Trade on this analysis at your own risk.
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.
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.