Analysis:
Conclusion: Uptrend ends when there is a big red daily candle below 50DMA, 2nd confirmation is a retest of the 50DMA and rejection. This happened after June 2019 top and Feb 2020 top
Observation: We have a major daily red candle cut through 50DMA like butter. Expect a retest like prev 2 times and that will be a great short opportunity with min target to 200DMA
LTF shows 5 waves are done, so a move to 323B (0.382 ) or 333B (0.5Fib + 50DMA)
Expect a drop to
260 B - 200DMA
236 B -0.382Fib
200 B - 0.5Fib
175 B - 0.618Fib
Invalidation: Breaking above and staying above 50DMA
Summary:
-Bearish below 50DMA
-Expect retest and rejection at 50DMA
-Final bearish confirmation below 200DMA
- In an uptrend, index needs to be over 50DMA (orange)
In 2019 rally, 50DMA was not retested
In March, 2020 rally, 50DMA was briefly lost
In a downtrend, index will drop below, retest and get rejected from 50DMA
50DMA lost in July 2019, retested 2 times in July and August
50DMA lost and retest failed in March 2020 crash
Index needs to drop below 200DMA as final confirmation (see Nov 2015)
Conclusion: Uptrend ends when there is a big red daily candle below 50DMA, 2nd confirmation is a retest of the 50DMA and rejection. This happened after June 2019 top and Feb 2020 top
Observation: We have a major daily red candle cut through 50DMA like butter. Expect a retest like prev 2 times and that will be a great short opportunity with min target to 200DMA
LTF shows 5 waves are done, so a move to 323B (0.382 ) or 333B (0.5Fib + 50DMA)
Expect a drop to
260 B - 200DMA
236 B -0.382Fib
200 B - 0.5Fib
175 B - 0.618Fib
Invalidation: Breaking above and staying above 50DMA
Summary:
-Bearish below 50DMA
-Expect retest and rejection at 50DMA
-Final bearish confirmation below 200DMA
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twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
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Follow me for more updates
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
twitter.com/imkeshav
youtube.com/channel/UCskbBdZstBUQ_4y2o912zzw
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。