From year 2015-2017:
Inverted head and shoulders.
From 2016-2018:
W2 = 61.8% of W1.
W3 = Approximately 261.8% of W1 and W2.
W4 = Between 23.6 and 38.2% of W3.
W5 = 161.8% of W4.
From year 2018-2020:
Bullish Divergence!
Price is now above MA50.
In my point of view, we could have a bearish W2 on the way. Usally the price pulls back after breaking a trend to use it as a new support.
But if we look at the long term analysis, then I have a strong beleive that the next move is bullish. All the FED's printed money should have an impact sooner or later.....
Inverted head and shoulders.
From 2016-2018:
W2 = 61.8% of W1.
W3 = Approximately 261.8% of W1 and W2.
W4 = Between 23.6 and 38.2% of W3.
W5 = 161.8% of W4.
From year 2018-2020:
Bullish Divergence!
Price is now above MA50.
In my point of view, we could have a bearish W2 on the way. Usally the price pulls back after breaking a trend to use it as a new support.
But if we look at the long term analysis, then I have a strong beleive that the next move is bullish. All the FED's printed money should have an impact sooner or later.....
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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.