March 2017 similarities
Bars pattern overlayed on chart. March 2017 down 27% in 9 days. March 2018 down 34% in 9 days.
C = 61.8% of A
Wave 2 = 61.8% retrace of wave 1
Now testing key median line.
C = 61.8% of A
Wave 2 = 61.8% retrace of wave 1
Now testing key median line.
Note
Squeezing thru both the median pitchfork linesNote
Keep an eye on 50DMA & 200DMA edging closer i.e. Death cross.Hasn't happened since 2014 and they haven't been this close since 2016 (0 level on indicator = crossing)
Note
50 RSI and trend line off triangle soon to be testedNote
This 50% retrace, and previous pivot area is the key short term area to be brokenNote
Large area, but significant levels in here. Confluence of fibs 200DMA and 50DMA
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Related publications
Disclaimer
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.