distribution on Weekly chart
All I have to say is.
R.I.P US economy.
I don't care about the fundamentals only that the effects of the fundamentals are forecasted into price.
Price tells mee all I need to know about the fundamentals and I don't even need to look at the news to tell you that we're in for a rough time.
Look so very like Wyckoff distribution on the weekly.
6monthly chart looks like a super bearish inverted hammer and tweezer top (albet 2 more months to go on this current candle)
1 monthly chart again showing me signs of a weakening trend, simple bearish divergences on all 3 of my oscillators, RSI, fast and slow all in tandem, stars are aligning.
2W, Weekly again all are looking weak.
Technically, we're still considered to be "bullish" since the bullish market structure is not yet invalidated (recent swing low has remained intact).
But what's worrying for the bulls is that on the weekly and 2W chart RSI has failed just below 70 (the upper limit of bullish territory, from what I've seen RSI divergence SFPs forming between 60-70 is bloody terrifying.) is scaring me. On the monthly chart, the fast oscillator just failed at the 0 line, that's very scary again.
Technically we're not bearish yet, but unless I see otherwise, I'm going to be a contrarian and say we're bearish.
feel free to open up the indicators to see what I'm talking about.
targets marked on the chart.
R.I.P US economy.
I don't care about the fundamentals only that the effects of the fundamentals are forecasted into price.
Price tells mee all I need to know about the fundamentals and I don't even need to look at the news to tell you that we're in for a rough time.
Look so very like Wyckoff distribution on the weekly.
6monthly chart looks like a super bearish inverted hammer and tweezer top (albet 2 more months to go on this current candle)
1 monthly chart again showing me signs of a weakening trend, simple bearish divergences on all 3 of my oscillators, RSI, fast and slow all in tandem, stars are aligning.
2W, Weekly again all are looking weak.
Technically, we're still considered to be "bullish" since the bullish market structure is not yet invalidated (recent swing low has remained intact).
But what's worrying for the bulls is that on the weekly and 2W chart RSI has failed just below 70 (the upper limit of bullish territory, from what I've seen RSI divergence SFPs forming between 60-70 is bloody terrifying.) is scaring me. On the monthly chart, the fast oscillator just failed at the 0 line, that's very scary again.
Technically we're not bearish yet, but unless I see otherwise, I'm going to be a contrarian and say we're bearish.
feel free to open up the indicators to see what I'm talking about.
targets marked on the chart.
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