Hello traders!
First of all congrats to the traders who remained bearish from the 44K peak.
Last Thursday at this time, I posted a trade when the market was at 44K, At that moment I was expecting a -22% dip and the target was 34500, and the market reached here within a week.
The Geopolitical situation is not in the Favors of bulls but this is the analysis that seems correct and we can see the 34500 reversal point that I predicted a week ago worked nicely even after a bad geopolitical situation. In the same way, I am expecting that this analysis will also work nicely. I don't focus much on the news because I am a 100% technical analyst and i can see situations on the graph even before something happens. So what I concluded is that the situation will be settled down on some conditions and the market will move up as drawn on the chart.
Let's talk about the graph now
First, I taught you how to draw and trade patterns and told you that 99% of traders trade a pattern in the wrong way in the same way 99% of traders also draw a trendline in a wrong way also trade it in a wrong way. It's difficult to digest the truth and I can tell you because when I created this method it was difficult to digest by myself and I kept ignoring it because top traders never taught something like that and they were doing the opposite and I believed in them LOL.
So in the chart above you can see I draw multiple trendlines. The reason why i drew multiple trendlines is that each trendline ends after a breakout.
Why there is a need to draw multiple trendlines because you can draw a single line in the end? LOL
Yes, there is a need to draw multiple trendlines because we have to count the breakout and take decisions perfectly if you don't know I always taught traders that every bullish breakout is a selling opportunity and you can see how the market dropped after every breakout. You can keep selling 5/6 times after every breakout.
In this scenario, we can see the 4th trendline hit 4 times without a breakout and this type of trendline is always the final trendline whether it's the 4th one or 7th number.
A final trendline breakout doesn't mean it is ready to jump, The correct analysis is much more than drawing a never working support and resistance or drawing a never working trendline and putting the arrow on the chart.
After the final breakout, we will wait for the market to form a pullback pattern and a pullback pattern is always formed below the support/resistance. Mostly before a final pump, we can see a pullback pattern below the area of the previous breakout.
Just hit the like button as appreciation, leave a comment and follow to stay connected.
First of all congrats to the traders who remained bearish from the 44K peak.
Last Thursday at this time, I posted a trade when the market was at 44K, At that moment I was expecting a -22% dip and the target was 34500, and the market reached here within a week.
The Geopolitical situation is not in the Favors of bulls but this is the analysis that seems correct and we can see the 34500 reversal point that I predicted a week ago worked nicely even after a bad geopolitical situation. In the same way, I am expecting that this analysis will also work nicely. I don't focus much on the news because I am a 100% technical analyst and i can see situations on the graph even before something happens. So what I concluded is that the situation will be settled down on some conditions and the market will move up as drawn on the chart.
Let's talk about the graph now
First, I taught you how to draw and trade patterns and told you that 99% of traders trade a pattern in the wrong way in the same way 99% of traders also draw a trendline in a wrong way also trade it in a wrong way. It's difficult to digest the truth and I can tell you because when I created this method it was difficult to digest by myself and I kept ignoring it because top traders never taught something like that and they were doing the opposite and I believed in them LOL.
So in the chart above you can see I draw multiple trendlines. The reason why i drew multiple trendlines is that each trendline ends after a breakout.
Why there is a need to draw multiple trendlines because you can draw a single line in the end? LOL
Yes, there is a need to draw multiple trendlines because we have to count the breakout and take decisions perfectly if you don't know I always taught traders that every bullish breakout is a selling opportunity and you can see how the market dropped after every breakout. You can keep selling 5/6 times after every breakout.
In this scenario, we can see the 4th trendline hit 4 times without a breakout and this type of trendline is always the final trendline whether it's the 4th one or 7th number.
A final trendline breakout doesn't mean it is ready to jump, The correct analysis is much more than drawing a never working support and resistance or drawing a never working trendline and putting the arrow on the chart.
After the final breakout, we will wait for the market to form a pullback pattern and a pullback pattern is always formed below the support/resistance. Mostly before a final pump, we can see a pullback pattern below the area of the previous breakout.
Just hit the like button as appreciation, leave a comment and follow to stay connected.
