Dear fellow traders,
As you can see on my chart my overbullish eye spotted a pattern that could bring us back to 10k.
A: 29 june = 14 August (hit the green line, bottom of downtrend line)
B. 9 july = 5 september (0.236 fib - 0.382 fib, top downtrend line)
C. 13 july = 10 september (triangle - breakout)
D. 25 july = ? 10k (0.618fib - 1 fib)
We are still in a downtrend and we recently got rejected violently with a attempt to breakout. But it looks like we made a higher low just like the pattern medio july. Yesterday we broke out the blue triangle.
If this pattern plays out, we should hit 7400 very soon and from there I see a bright future at 10k.
Another possibility is that this just a fake out and we go back to 5700 - 5800.
As you can see on my chart my overbullish eye spotted a pattern that could bring us back to 10k.
A: 29 june = 14 August (hit the green line, bottom of downtrend line)
B. 9 july = 5 september (0.236 fib - 0.382 fib, top downtrend line)
C. 13 july = 10 september (triangle - breakout)
D. 25 july = ? 10k (0.618fib - 1 fib)
We are still in a downtrend and we recently got rejected violently with a attempt to breakout. But it looks like we made a higher low just like the pattern medio july. Yesterday we broke out the blue triangle.
If this pattern plays out, we should hit 7400 very soon and from there I see a bright future at 10k.
Another possibility is that this just a fake out and we go back to 5700 - 5800.