Chat buddy pointed out similarities to 2008 PA just prior to the infamous crash
So here's a chart attempting to overlay the same bar pattern from 2008 onto the current PA and trend
As you can see the overlap is remarkable...
Also included are a longterm fib retracement on the major uptrend and a fib extension on the minor downtrend
I will be honest this is more bearish than I expect, but it's an interesting idea and price levels anyway
So here's a chart attempting to overlay the same bar pattern from 2008 onto the current PA and trend
As you can see the overlap is remarkable...
Also included are a longterm fib retracement on the major uptrend and a fib extension on the minor downtrend
I will be honest this is more bearish than I expect, but it's an interesting idea and price levels anyway
Trade active
CPI delusions give bulls some room to deviate up...but the good news is we could get major and minor fib extensions confluence on start of QE level
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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.