WELCOMED THE ARRIVAL OF THE NEW BULL MARKET (PART #2 NEW UPDATE)
BUY WITH CAUTION & CONSIDERATION
As my previous analysis, weekly Sept 9, 2019 (plus 1 week) is my timing to go long, although from The Main Chart Approach above has appeared A Red Candle in Last Week, but The Bears hasn't been able to conquer $1480 and The Bulls hasn't been able to conquer $1522 to date and it seems like The Bulls and The Bears are waiting for the Fed Meeting in Sept 19, 2019 this week.
From the following Chart Structure Approach (please copy this link and paste it into your browser: //s3.amazonaws.com/tradingview/snapshots/e/Es2CQIhk.png), I see the potential to move higher, if the price reduction in last week was only A Retest Of The Bullish Flag Tilt Pattern. If we look at the pattern of price movements in the previous year (2016, 2017 & 2018) which I marked with numbering 1, 2 & 3, so at this time the pattern of price movements tends to be in numbering of 3. For that reason I will only go short if the weekly price closes below $1480/70.
If this level can be conquered by The Bears, then it is likely that the price decline will occur until The End Of December 2019, on the contrary if The Bulls can maintain The Bullish Flag Tilt Pattern, then it is likely that higher price will occur until October Or November 2019.
Then What Will Happen At The FED Meeting Later?
No One Know, each prepared their forecast, included me ;)
ooOoo From The Desk Of NewBie ooOoo
As my previous analysis, weekly Sept 9, 2019 (plus 1 week) is my timing to go long, although from The Main Chart Approach above has appeared A Red Candle in Last Week, but The Bears hasn't been able to conquer $1480 and The Bulls hasn't been able to conquer $1522 to date and it seems like The Bulls and The Bears are waiting for the Fed Meeting in Sept 19, 2019 this week.
From the following Chart Structure Approach (please copy this link and paste it into your browser: //s3.amazonaws.com/tradingview/snapshots/e/Es2CQIhk.png), I see the potential to move higher, if the price reduction in last week was only A Retest Of The Bullish Flag Tilt Pattern. If we look at the pattern of price movements in the previous year (2016, 2017 & 2018) which I marked with numbering 1, 2 & 3, so at this time the pattern of price movements tends to be in numbering of 3. For that reason I will only go short if the weekly price closes below $1480/70.
If this level can be conquered by The Bears, then it is likely that the price decline will occur until The End Of December 2019, on the contrary if The Bulls can maintain The Bullish Flag Tilt Pattern, then it is likely that higher price will occur until October Or November 2019.
Then What Will Happen At The FED Meeting Later?
No One Know, each prepared their forecast, included me ;)
ooOoo From The Desk Of NewBie ooOoo
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