Applying historical angle trends to current market.
Historical: 2017 ATH closed that month on the same angle trend the FIB retracement posted to the ATH , when overlayed against the start of the trend versus lowest low.
Current/2021: applying that logic to the current trend we arrive at 1530 for the monthly close.
Note: I am still relatively new at TA so feedback is welcome. I know this is a simple analysis but I the correlation between trend angles and temporal data is an interesting way to analyze the market.
Note 2: I don't think this is the end of the uptrend but an indicator of where the current trend will fall on the monthly candle.
Historical: 2017 ATH closed that month on the same angle trend the FIB retracement posted to the ATH , when overlayed against the start of the trend versus lowest low.
Current/2021: applying that logic to the current trend we arrive at 1530 for the monthly close.
Note: I am still relatively new at TA so feedback is welcome. I know this is a simple analysis but I the correlation between trend angles and temporal data is an interesting way to analyze the market.
Note 2: I don't think this is the end of the uptrend but an indicator of where the current trend will fall on the monthly candle.