So far so good----
Past few day's pattern has been religiously followed and that has left me flattered ----
.png)
What next???
Now that the 5w form has ended with an Ending Diagonal and downmove begun, have we reversed or we are only retracing ??
While Ending Diagonals are typically ''found at the termination points of larger patterns, indicating exhaustion of the larger movement.'' and are followed by ''a sharp decline retracing at least back to the level where it began and typically much further''--- and therefore I am putting the first target of the downmove started today at sub-5940 level.
And for tomorrow morning, in view of the median that is going to be tested(Hour chart) and the positive divergence appearing on 5 min charts-- we may see some bounce which should be used for shorting again:
(of course, Stop-loss for shorts is now today's high):
.png)
.png)
.png)
Past few day's pattern has been religiously followed and that has left me flattered ----
.png)
What next???
Now that the 5w form has ended with an Ending Diagonal and downmove begun, have we reversed or we are only retracing ??
While Ending Diagonals are typically ''found at the termination points of larger patterns, indicating exhaustion of the larger movement.'' and are followed by ''a sharp decline retracing at least back to the level where it began and typically much further''--- and therefore I am putting the first target of the downmove started today at sub-5940 level.
And for tomorrow morning, in view of the median that is going to be tested(Hour chart) and the positive divergence appearing on 5 min charts-- we may see some bounce which should be used for shorting again:
(of course, Stop-loss for shorts is now today's high):
.png)
.png)
.png)
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