The close of May 9th is a resistance, however a weak. Another indicator is the mid June window which has been repeated today. If this points cannot be overcome soon we may see a downward retracement. Another item is the old Fibonacci mark of the rise from March 2020 until November 2021. The 38,2 % level has been reached from the downside again now.
All together...
There was a number of windows opened during the decline in the past 2 weeks. The latest oft them has been closed yesterday. As the downward momentum is declining we may expect the close of the last open window opened on February 23rd. If so we may see a test of the bottom of the sideward range that was trading for 3 months.
We got an open window since December 7th. It could not be closed by the following downward correction. The week ended with an inverted hammer. This makes it more likely for me to expect a test of the mid summer highs again to close the window of November 21st once again or even that of November 1st.
2 consecutive Dojis indicate a possible top.
Tradingview doesn't want my idea as they think that the description is to short. :-(
They are saying: "Gosh, That's a very brief description. Could you, please tell your audience a little bit more about what yoe're publishing."
No, I cannot. That's the idea. But they don't want a short idea. They want volume, much...
