Bearish Charts still Intact (Chart 1 of 3 case scenario)
To be completely honest, in my opinion I see 3 possible scenarios playing out with 2 being bearish and the 3rd bullish. I'll release a chart for each possibility today with this being the 1st.
This chart needs little to no explanation if you've been following my previous published charts. I believe that those charts are still in play down to the 8.5k-ish territory. We've failed to breakout with each new impulse up and succeeded only in making lower highs each time.
I've been told that my wave analysis is wrong because wave 4 entered into wave 1 price action but you also have to remember wave 4 does not overlap with the price territory of wave 1, EXCEPT in the rare case of a diagonal triangle formation.
I welcome any and all feedback as I'm still pretty new at this and have only been teaching myself for about a year now. Thank you ladies and gents for not being judgemental.
This chart needs little to no explanation if you've been following my previous published charts. I believe that those charts are still in play down to the 8.5k-ish territory. We've failed to breakout with each new impulse up and succeeded only in making lower highs each time.
I've been told that my wave analysis is wrong because wave 4 entered into wave 1 price action but you also have to remember wave 4 does not overlap with the price territory of wave 1, EXCEPT in the rare case of a diagonal triangle formation.
I welcome any and all feedback as I'm still pretty new at this and have only been teaching myself for about a year now. Thank you ladies and gents for not being judgemental.