Can Dominos survive the Downtrend?

2022년 8월 28일

Sign of Bearish Trend
- Candlesticks moving below MA200 , possible challenge MA200 soon.
- If we take a look at ichimoku indicator, candlesticks moving back into the cloud & lagging span moving at similar level as candlesticks(failing to establish bullish revesral)
-Downtrend line B which form Lower low (LL2) has reach expectation of 1:1 of Line A, with a lower downtrend momentum (mixed)

Some Signs of reversal
-Candlestick moved above cloud for short period of time since the Top of 56X.
-Retracement line R2 retrace approximately 0.75fib of Line B, much stronger than retracement R1.

Expectations:
-Downtrend will continue after mini double top being formed and breached

- However Downtrend line C might not be able to meet 1:1 downtrend expectation of line C due to more signs of reversal such as stronger retracement R2>R1.
-Price level 370-390 will be interesting to watched:range where most tradings occur for the past 800 bars/days.