Relooked into a previous patterned and added some Fibonacci into the equation, as it appeared to have some pattern in the background. Lo and behold, there appears to be some Fibonacci pattern and here is what it looks like:
1. Each long term rally has a base triangle pattern of similar magnitude.
2. The next stack pulls back to form the bottom of the next triangle.
3. The peak of the new triangle is in Fibonacci extended relation to the previous triangle, in decreasing target level of 1.62, then 1.5, and currently possibly 1.38.
4. All triangles give rise to a consolidation level at 1.38 Fibonacci extension for the next triangle.
5. So, the pattern looks like 1.38 & 1.62 extended target, 1.38 & 1.5 extended target, 1.38 & an expected 1.38 extended target.
6. The reducing target is due to age of the major bull cycle, as well as a compressed time frame for each succeeding triangle having about 38% of the time the previous triangle took to peak.
Given the above parameters, it is calculated that the next peak for the Nasdaq futures NQ1! should be about 11225, and the time frame puts it into the month of August.
Consequently, should see the bullish momentum of NQ1! struggle to increase momentum further, and perhaps roll over soon.
Just an observation of a pattern model that appears to be maturing very soon.
1. Each long term rally has a base triangle pattern of similar magnitude.
2. The next stack pulls back to form the bottom of the next triangle.
3. The peak of the new triangle is in Fibonacci extended relation to the previous triangle, in decreasing target level of 1.62, then 1.5, and currently possibly 1.38.
4. All triangles give rise to a consolidation level at 1.38 Fibonacci extension for the next triangle.
5. So, the pattern looks like 1.38 & 1.62 extended target, 1.38 & 1.5 extended target, 1.38 & an expected 1.38 extended target.
6. The reducing target is due to age of the major bull cycle, as well as a compressed time frame for each succeeding triangle having about 38% of the time the previous triangle took to peak.
Given the above parameters, it is calculated that the next peak for the Nasdaq futures NQ1! should be about 11225, and the time frame puts it into the month of August.
Consequently, should see the bullish momentum of NQ1! struggle to increase momentum further, and perhaps roll over soon.
Just an observation of a pattern model that appears to be maturing very soon.
