On my chart, I depicted a pennant that signals a downward movement. I am convinced that in past times we have not gone down enough, so it seems to me that now we will fall somewhere lower. In addition, I have attached indicators that support my idea.
It seems to me that within 4 weeks we will move at current levels. Afret successfuly closing these 4 weeks, according to the NYA Sequential indicator (based on the Sequential Thomas DeMark indicator), we will receive a setting and start moving down, which will be a correction.
It seems to me that within 4 weeks we will move at current levels. Afret successfuly closing these 4 weeks, according to the NYA Sequential indicator (based on the Sequential Thomas DeMark indicator), we will receive a setting and start moving down, which will be a correction.
Note
The Chaikin Money Flow indicator has formed a divergence on the chart, which means the downward movement. Let me remind you that the "divergence" is one of the strongest signals.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.