Ok..... so at this point most people have shorted the market like myself. We're currently down roughly 23% from ATH to the most recent lowest low. Can we start to populate some ideas as to where the bottom may be? I have counted a bunch of gaps that need to be filled right down to 1850 on the daily TF. Some have posted Ideas that it may pull back to the established 1929 trend line. Others are saying there is support at the Covid-19 low. The most intelligent are saying don't try to catch falling knives. However, that does not help me. I believe helping to identify the bottom helps everyone.
I personally think we'll get a reversal at the intersection of the green megaphone trendline, 200 SMMA, The 1929 trendline, and the red support line at 1850. I'll probably look for confirmation of a indicator a this intersection
And please don't tell me this it the low........ we have a long way down from where we currently are.
Thank you,
Cheers
Darren
Not investment advice
I personally think we'll get a reversal at the intersection of the green megaphone trendline, 200 SMMA, The 1929 trendline, and the red support line at 1850. I'll probably look for confirmation of a indicator a this intersection
And please don't tell me this it the low........ we have a long way down from where we currently are.
Thank you,
Cheers
Darren
Not investment advice