4 reasons to sell. pitchfork, elliott wave, time balance,
1. Pitchfork: price is falling from bullish channel center and from the top of bearish channel
2. Time balance: January 3 was 50% retracement in time of previous downtrend impulse
3. Elliott wave: Looks like second wave is finished on daily, because we got 5 waves down and retracement to 61.8% fib on 30min chart
4. Chart Pattern: Double Top confirmed
Begining of the month and begining of the year is the time when tops and bottoms happens very often..
Positive correlation with Nikkei and negative correlation with Gold is good confirmation as their elliott wave count matches with it.
2. Time balance: January 3 was 50% retracement in time of previous downtrend impulse
3. Elliott wave: Looks like second wave is finished on daily, because we got 5 waves down and retracement to 61.8% fib on 30min chart
4. Chart Pattern: Double Top confirmed
Begining of the month and begining of the year is the time when tops and bottoms happens very often..
Positive correlation with Nikkei and negative correlation with Gold is good confirmation as their elliott wave count matches with it.
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