Looking for when the FTSE 100 may enter a Bear Market. Despite the media saying a 20% drop is a signal for a Bear market, the real number is 16%.
Taking a measurement of 16% from the previous high in the summer of 2018 and a 16% drop comes to around 6442.
If price drops below this mark, (red dash line) this could signal the Bears are in full control.
There is a possibility for a triple bottom and potential reversal. Let's see how this plays out.
This is not forecast unlike my other charts, just an idea/possibility that has a realistic chance to come to fruition.
People called 4k when we hit 6k bottom and where I bought, people called for 4.8k at 6.45k where I bought, people called for 5k at 6.1k where I...
Gold rose nicely yet approaching the resistance zone.
Short price signals formed on 1hr, 4hr timeframe and it looks like a price signal is forming on the daily.... so I've entered on the sell-side.
Hmmm... I am developing a contrarian habit because the line of least resistance on gold is up!
EURUSD is in an upward trend over the long-term, however 25-Jan-18 closed with a short price-action and placed a position on that basis.
Possible error : "It's a bull market you know!"
Yes, this saying rings true in this case and therefore I could be wrong and EURUSD won't drop that much, if at all.
ENTRY : 1.2474
R1 : 1.2344
R3 : 1.1974
Hmm, I’ve got my contrarian hat on, as week AMZN seem to have closed with a pinball price action at 24-Jul.
This could be a short-term profit taking for some bulls.
However the Long term trend is Upward with Higher-High and Higher-Low’s.
Resistance zone: $1030 - 1090
Support 1: $962
Support 2: $835-840