3-9-25 Mnthly chart review
Bear breakout, but from a bad buy signal.
Likely 2 legs sideways to down from here. I think this is leg 1
Depending on your count, the trend up lasted 26 or 14 bars. You would expect a correction
of half that many bars at least, meaning either 14 or 7 bars, sideways to down. We've had 4,
meaning at least 3 more bars sideways to down is a safe bet. We will also likely overlap the
lower wick of Feb's bar by some amount soon. This March bar is in it's early formation, which
is less favorable for the bulls. The later part of the month is when you want to see the
breakout. I think it's high probability that we eventually touch the EMA, but that may take 2-3 months.
Bear breakout, but from a bad buy signal.
Likely 2 legs sideways to down from here. I think this is leg 1
Depending on your count, the trend up lasted 26 or 14 bars. You would expect a correction
of half that many bars at least, meaning either 14 or 7 bars, sideways to down. We've had 4,
meaning at least 3 more bars sideways to down is a safe bet. We will also likely overlap the
lower wick of Feb's bar by some amount soon. This March bar is in it's early formation, which
is less favorable for the bulls. The later part of the month is when you want to see the
breakout. I think it's high probability that we eventually touch the EMA, but that may take 2-3 months.
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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.