1. One important way to "technically" estimated, or predict a future potential growth is to find patterns that work in "many" cases of which I have chosen RSI (2). This formation with it can be considered of such kind.
2. Please check the "Growth Angle" always. The sharper the growth angle the sharper the downturn will be. This happens in financial markets and it is due to psychological characteristics of the herd. How?
2.1. Since 13 Mar 20 - 23 Dec 21 (285 days) it has been 3 degrees.
2.2. Since 23 Dec 20 - 08 Apr 21 (106 days) it has been 19 degrees.
- How does it make any sense?
For those who have been following my posts, I had one on EOS using MAs of 50, 100 & 200 periods. When 50 & 100 MAs cross up the 200 it is called the Golden Cross & the upside-down cross is called the Death Cross. Please be informed that the growth starts so & continues toward the end of the 5th wave in any timeframe. You need to set forth proportionated time & price targets respectively (based on your trading timeframe).
3. Since the abovementioned have happened, a "new price channel" has been formed since 23 Dec 20. Now this new sharper channel needs to be broken. If so, higher targets are available.
4. Note: one might say that: "everybody knows if a new peak is conquered, then another higher one would be possible! That is why some think that technical Analysis is just painting!"
But, having said that, I mean they are so true! Yet, What they do not care are: the Elliots, the Fibs. & important S&Rs based on the chosen trading time frame.
Trading needs a multidimensional thinking. Though nothing is certain, some basics & principle happen to work in many occasions.
This post can be an Analysis-Educational one to say & it is "NOT" a financial advice.
2. Please check the "Growth Angle" always. The sharper the growth angle the sharper the downturn will be. This happens in financial markets and it is due to psychological characteristics of the herd. How?
2.1. Since 13 Mar 20 - 23 Dec 21 (285 days) it has been 3 degrees.
2.2. Since 23 Dec 20 - 08 Apr 21 (106 days) it has been 19 degrees.
- How does it make any sense?
For those who have been following my posts, I had one on EOS using MAs of 50, 100 & 200 periods. When 50 & 100 MAs cross up the 200 it is called the Golden Cross & the upside-down cross is called the Death Cross. Please be informed that the growth starts so & continues toward the end of the 5th wave in any timeframe. You need to set forth proportionated time & price targets respectively (based on your trading timeframe).
3. Since the abovementioned have happened, a "new price channel" has been formed since 23 Dec 20. Now this new sharper channel needs to be broken. If so, higher targets are available.
4. Note: one might say that: "everybody knows if a new peak is conquered, then another higher one would be possible! That is why some think that technical Analysis is just painting!"
But, having said that, I mean they are so true! Yet, What they do not care are: the Elliots, the Fibs. & important S&Rs based on the chosen trading time frame.
Trading needs a multidimensional thinking. Though nothing is certain, some basics & principle happen to work in many occasions.
This post can be an Analysis-Educational one to say & it is "NOT" a financial advice.
Commento:
Price has channeled up friends. Next Target 8.5.
