a look at the current adam & eve double bottom in play.
last chart I showed the 3day golden cross and the 1 day falling wedge on the verge of being validated and now few days later it seems this is indeed the case. Neither of those are shown here because I wanted to clear the chart to focus on the adam and eve double bottom that has been rapidly developing. Keep in mind though the breakout target of the falling wedge is around 11.5k and we are rapidly approaching that target. We can see here on this chart the neckline of the adam & eve double bottom is right around 11.1k. So logically if we were to reach the 11.5k target of our falling wedge it would greatly increase the odds of maintaining support above the 11.1k double bottom neckline...were we able to maintain that support for 3 or so 1day candles we could the trigger the double bottom and head towards it's target around 13.1k. There's also the matter of the gap on the cmes futures chart at 8.5k but although gaps tend to get filled 94% of the time this could be one of the few 6% times that it doesn't. If we are going to end up filling that gap imo it would have to do a massive dump after reaching the falling wedge breakout then testing the 3day 50 and 200mas for a massive boucne support. If it doesn't and we do trigger the double bottom then odds are very good that gap wont be getting filled. We also currently still see the double top here in red has not been invalidated just yet but probability of it being anything other than a fakeout gets lower and lower as every new 1day candle is added.
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