There is such a rare long-playing formation “bear measured move” from the peak of 2017 and it is being formed. Measuring stroke is a fairly long formation figure. Which can take from six months to several years.
Bear measured move consists of three long phases, or stages. In a measuring stroke, the first and third phases are descending, and the middle one is ascending.
We are now in the third phase.
Goals are calculated in the third phase as follows: percent of the first price drop.
But this long-playing figure takes place only if the future triangle is punched down. See all related ideas.
Stages of the formation of the figure Bear measured move:
1) The initial maximum should be noted, so that was where to start the first fall.
2) The first drop lasts long enough: from weeks to many months.
3) Growth after the first fall is approximately half of the fall, usually the price rises by 30-60% depending on the duration of the first fall. The middle phase of growth can be a separate independent figure.
4) The second fall in absolute value is very close to the fall of the first. Goals are calculated in the third phase - the percentage of the first drop.
5) Trading is not significant, but is usually increased during the first fall and falls during growth.
The trend over the past 2 years (from the peak of $ 20,000) is a downtrend.
The existing trend for half a year is an uptrend.
Work according to the short scenario to the level of 7 thousand. Further from the reaction of the level.
It is very important where the price will be fixed after the impulse.
This trend is the 3rd phase of the “bear measured move” (the third component of the bear measured move)
This puncture may turn out to be false. It is very important where the price is fixed. If it fixes above the downtrend, then there is a high probability of a fracture of "3 phases of a bearish measured move" (which has existed for 5 months already).
If the price goes along the trend, then the situation is 50/50 but closer to the continuation of the downtrend. If the price is fixed below the downtrend, then it’s not the time to break the 3rd phase of the “bear measured move”.
As we can see, the zones work out perfectly. You can see the way out of the price from the zone of $ 7000-7600 to the important area of the downtrend that I designated in advance. There is a trend puncture, no more. The only important thing is fixing the price. If there is a consolidation above the downtrend, then this will mean a change in the downtrend. And at the moment we are in a general downtrend. All options for working from different situations, I described in great detail in several trading ideas and videos.
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