This is only an idea. Follow if you wish. I'm not a pro.
I have a trades open at the marks.
Vertical green lines are Gann sq9 time periods where you should expect price action.
Purple horizontal lines are potentially significant price points.
I marked the important price points from Gann Fan, Fib lines and trend lines.
The price points outside of the trade box are stretch goals on a 10% TTP
Currently forming a hammer on the 4h chart. Short term expect upside. Follow the arrows.
We might bounce off the 100ma (daily) around the 59000 level at the same time as our trendline. This could create significant price action for an upward swing, but I doubt we would break our descending trendline.
Interestingly we have a (small, but possibly significant) divergence on the MACD daily chart.
The massive red candle on the 4h chart is very significant.
We pierced through our 1:2 Ascending Gann Fan trendline that we have been above since Jan 24th, 24. Not good for the bulls.
This should mark the end of this bull market for now if you follow Gann Fan trades.
I expect sideways movement before a big drop. Let's see.
Opinions welcome.
Happy trading.
I have a trades open at the marks.
Vertical green lines are Gann sq9 time periods where you should expect price action.
Purple horizontal lines are potentially significant price points.
I marked the important price points from Gann Fan, Fib lines and trend lines.
The price points outside of the trade box are stretch goals on a 10% TTP
Currently forming a hammer on the 4h chart. Short term expect upside. Follow the arrows.
We might bounce off the 100ma (daily) around the 59000 level at the same time as our trendline. This could create significant price action for an upward swing, but I doubt we would break our descending trendline.
Interestingly we have a (small, but possibly significant) divergence on the MACD daily chart.
The massive red candle on the 4h chart is very significant.
We pierced through our 1:2 Ascending Gann Fan trendline that we have been above since Jan 24th, 24. Not good for the bulls.
This should mark the end of this bull market for now if you follow Gann Fan trades.
I expect sideways movement before a big drop. Let's see.
Opinions welcome.
Happy trading.
Trade active