Price has broken below the volatility between two consecutive fractal highs (pink square). MACD has gone below zero (light blue vertical on chart). All that remains is for Histogram to drop below zero (yellow vertical on chart). In the meantime maybe still be room for a bounce.
Does Histogram need to drop below zero, could a surprise move in fiat dollar, or other market cause a statistical upset, and a break with earlier an pattern, sure - nothing is always perfect. Also, my kind of observations are always too short to be considered of statistical/industrial strength relevance.
If low of July 12th is a forming fractal low, then we can also draw a green trend line which I've done. Good luck guy's.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Does Histogram need to drop below zero, could a surprise move in fiat dollar, or other market cause a statistical upset, and a break with earlier an pattern, sure - nothing is always perfect. Also, my kind of observations are always too short to be considered of statistical/industrial strength relevance.
If low of July 12th is a forming fractal low, then we can also draw a green trend line which I've done. Good luck guy's.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment:
Yesterday Histogram went below zero (yellow verticals on chart), and low of 12th July has been confirmed a fractal low. Whether it makes a difference if MACD goes below zero first, time will tell.