Dear Traders,
obviously this is just an idea and nothing that can be traded by now. For this I have taken out one of my former charts, where I tried to show you the stages that are probably awaiting us.
Currently I am still not bearish mid to long term. This drop was caused by a broken key-level around the Monthly Pivot and we are now starting to approach the first zone of possible support (yellow area).
At this point I am starting to see a possible diamond bottom pattern forming out. It is very early, so no forecasts can be based on this.
Anyhow the old trend line is around this support-area as well and likely some orders are going to be hit soon.
What I would not like mid-term is another break below the Yearly-Pivot. We are still in a very neutral zone, where anything can happen.
Warm regards,
Neru
obviously this is just an idea and nothing that can be traded by now. For this I have taken out one of my former charts, where I tried to show you the stages that are probably awaiting us.
Currently I am still not bearish mid to long term. This drop was caused by a broken key-level around the Monthly Pivot and we are now starting to approach the first zone of possible support (yellow area).
At this point I am starting to see a possible diamond bottom pattern forming out. It is very early, so no forecasts can be based on this.
Anyhow the old trend line is around this support-area as well and likely some orders are going to be hit soon.
What I would not like mid-term is another break below the Yearly-Pivot. We are still in a very neutral zone, where anything can happen.
Warm regards,
Neru
