If you do not read the analysis of Part 1, please read it
What can be seen is that the AB trend is a downtrend (and in my opinion the start of the bear market)
And we had a nearly 50% decline in that trend (so it's normal for the market to rest a bit) (maybe a break for more fall, maybe !!)
In this analysis, we have drawn a fibo for the AB trend. And I have marked 3 very important levels for you with the red arrow. See them.
It has now reached the level of 0.5. From these three levels, the next bear trend may begin.
But my decision: For a short time, I see a bullish market. (Rest only)
But in general my trend is downward.
This is a personal opinion.
What can be seen is that the AB trend is a downtrend (and in my opinion the start of the bear market)
And we had a nearly 50% decline in that trend (so it's normal for the market to rest a bit) (maybe a break for more fall, maybe !!)
In this analysis, we have drawn a fibo for the AB trend. And I have marked 3 very important levels for you with the red arrow. See them.
It has now reached the level of 0.5. From these three levels, the next bear trend may begin.
But my decision: For a short time, I see a bullish market. (Rest only)
But in general my trend is downward.
This is a personal opinion.
