As we can see this weeks cycle is due to come to an end in the beginning of next week.
We are still high above the lower lateral support lines in the larger market cycle and we have come off the peak formation downwards.
In the next week we could see a return up a level before the continued move downwards or after a stop hunt early in the week we could see a large continued move down.
In the previous two cycles there were clear entry signals as I have circled here, with RSI being overboought, lower highs/lower lows forming near the top level where the peak formation was, there was plenty of time to make an entry on the second leg of the M formation after the formation had been confirmed by the candle patterns and MA crossback over.
We are still high above the lower lateral support lines in the larger market cycle and we have come off the peak formation downwards.
In the next week we could see a return up a level before the continued move downwards or after a stop hunt early in the week we could see a large continued move down.
In the previous two cycles there were clear entry signals as I have circled here, with RSI being overboought, lower highs/lower lows forming near the top level where the peak formation was, there was plenty of time to make an entry on the second leg of the M formation after the formation had been confirmed by the candle patterns and MA crossback over.