Using several different formations and targets for each.
Using the 1H chart.
Head and shoulders pattern: Measuring from the head to the neck there's an approximately 10% drop so we'd expect an approximate 10% drop from the neckline. Takes us to 32k.
Bear flag: Measuring from the top of pole to the base of the bear flag we'd expect an approximate 8% drop to 33k.
Bearish butterfly: The bearish butterfly pattern would give us a target at the 1.272 retracement. Again at approximately 32k.
Let me know what you think.
Using the 1H chart.
Head and shoulders pattern: Measuring from the head to the neck there's an approximately 10% drop so we'd expect an approximate 10% drop from the neckline. Takes us to 32k.
Bear flag: Measuring from the top of pole to the base of the bear flag we'd expect an approximate 8% drop to 33k.
Bearish butterfly: The bearish butterfly pattern would give us a target at the 1.272 retracement. Again at approximately 32k.
Let me know what you think.
