As in most nen ideas, the purpose of this ensemble is to try and catch potential pivot points, turnarounds, or bounces, at any of the individual shapes or levels, in a way that stands out from other possible random occurrences. The green curves are a main scenario for the direction of the price, but the actual path that unfolds can deviate from it before getting back on track. The end of the main scenario might play out differently than the last curve, but hopefully another pivot point will pop out before this project ends.
Many pivot points that occur at the shapes in nen ideas are tradable and provide clear opportunities with good risk/reward radios, but as usual, no trading advice is given in these projects. Everyone should be responsible for their own trading decisions.
Many pivot points that occur at the shapes in nen ideas are tradable and provide clear opportunities with good risk/reward radios, but as usual, no trading advice is given in these projects. Everyone should be responsible for their own trading decisions.
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After sliding down the black big curve, and getting past the end of the blue trend line, we have first signs of bullish momentum and an attempt to "get back on track" towards the green curve, after the small deviation.
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Potential resistance on top: blue trend line or green rectangles.
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Too fast to catch this pivot point.
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A little bit of a bounce from the black curve.
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Approaching the green curve again after that rebound from the black curve. Where will the next pivot point be?
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Descending slope of highs, and 2 candlestick shadows near the green curve. Not sure this is a pivot point, but the price is still under the blue downward trend line. If this trend line is not tested/visited, we could see a move towards the blue rectangle. The general green path of the curves is still valid, despite any other types of deviations from it.
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With the perfect bounce from the green curve, this setup should really be considered for a potential pivot point. Good luck!
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The potential pivot point did not grow into a wave. The price is testing the green curve and the blue trend line. Any break could trigger a retest, but more importantly in this project is the hunt for potential pivot points. The green rectangle above can be ruled out as it is too far and almost over, another element that can become significant is the time stamp of the vertical line.
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The proposed blue rectangle as a zone of influence was interesting. Right after the time stamp (with the vertical green line) the bearish momentum disappeared and after a consolidation period right under the blue rectangle, the bulls got back into play. Back at the green curve again.
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The blue trendline has proven to be quite significant in the evolution of this market, as a very important reversal happened for the third time right at it. The price is now at the end of it. Could this mean there is room for more bullish momentum towards the other elements in this snapshot? Or will the green curved path still be relevant? The vertical white rectangle might signal a potential reversal in overall sentiment, so if the bull run continues until then, shorting around or after that time might become relevant to consider.
The price action at the previous blue rectangle as highlighted in this snapshot could be just coincidental.
The price action at the previous blue rectangle as highlighted in this snapshot could be just coincidental.
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Sliding along the green curve.
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Bounce
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Price did not touch the rectangle but the path was clear and simple towards it. Next closer time frame presents the potential for a climb above the longer support/resistance rectangle zone, a glide towards it, or under it. I am leaning towards the under scenario.
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Missed the previous prediction for a bearish sentiment. We are at the milestone of the white rectangle and the white dot time stamp. Nothing unusual, the marked price level from above hasn't been reached. Looking forward for more signs of potential weakness, if it comes.
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Zoomed out version of the project with the initial black curve colored in purple
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Crossroads. At the intersection of the big curve and the marked price level, the market bounced. The simple fact that it even touched this intersection of elements, is probably just purely coincidental.
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Impressive bull run from that pivot point. Project over. On to the nexzt.