It's beginning to look like it could be running out of steam. Based on the formation and measurements I see possible top levels in the 9400-9600 area. At least for a substantial correction to the down side.
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Something like this.
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Feeling stressed? Try deep breathing. Close your eyes and take 5 to 10 deep breaths. You're welcome. ;-)
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I can definitely see how some of the best traders and fund managers have worked with artists. For example when I draw arrows (which have a pretty high degree of accuracy. Maybe above 65% in terms of recognizing reversal points and S&R.) But as for the process I use. First I draw S&R off the daily and 4 hour close. Then next I just draw the arrow. I then adjust the upper and lower ends to the point where you sense it just won't go beyond. That place is the magnet price is driven toward. It's this concept of balance. Visual balance.
I really think analysts could benefit from learning to see it. Technical analysis should always be expanding in my view. Because the market is. Anything that offers additional angles is nice to have.
I really think analysts could benefit from learning to see it. Technical analysis should always be expanding in my view. Because the market is. Anything that offers additional angles is nice to have.
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I often use other indicators together with the more visual approach.
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All I ever wanted was to troll the trolls...