TARGET 5000, SHORT. LARGE PHASE, COULD BE BIG LOSSES
https://www.tradingview.com/x/jBkKZK9V/
Ok. Still on going with my development of my own TA method, i guess i should call it phase analysis since i work in phases instead of waves.
Ok so i previously thought there would be 3 phases and a transition phase before changing to a bull market. Well looking at where we are now it looks very much like this is indeed the start of what would be a 4th phase, it has the same evolution as the others but this one looks to be much larger (in percentage of price terms), so by my estimation we have just about completed part one of this phase (i still beleive most phases come in 3’s and each 1 od the 3 parts of thge phase and also made up of a smaller 3 parts on a lesser time from and each one of those is made of 3 parts on an even smaller time frame, i beleive they are in a cycle that brings that brings the time interval above a further step in its evolution. Anyway…no need to worry about my crazy way of doing things…just results that matter hey
So my Prediction is 5000 target, 5200 would be safe in my opinion, pushing it would be about 4800. Time frame i have not worked out but i think it will be likely to be there by end of october, so about 6 weeks
Could have this all wrong too so this isa just me sharing my thoughts not trading advice. Although i am trading it short myself but if it looks like what i think is wrong exit for small loss or even small profit.
Danger is when you trasde someone elses TA is that you dont always know what is acceptable deviation and deviation that voids the trade, so its the reason all should trade their own way
Also this is something you may or may not find intere3sting. I will often use RSI , STOCH RSI and fishers transform in tandem. I have come across this on many many occasions now and it has been a very good signal for the market direction and power.
When there is a big dependency between stoch and fisher, for example, stoch is over sold, but fisher is near over bought, or at least in the top half, then when stoch turn upwards it will more times than not give you some very strong moves. Obviously you cant trade on this soley but it is kinda something that helps back up your other ta. Please see pic of what i mean