EOD: Testing triangle / lows. No closing 'next-higher-degree leg' turn signal [mkt down] in either the index or volatility instruments yet but probably getting closer. Possible more down tomorrow according to closing signals: a-b-c down completed today.
10:35pm EST: About to test the triangle center at 'b'. Previous triangle backtest on 2/8/22 at 'b' broke up and then failed. It then created this current triangle on 2/14/22. That particular date aligns with a frequency target so there could be a reaction [new leg starting up or turn signal market down]
Once the high target zone is entered, a turn signal [mkt down] is expected. In a second study, the potential for the diamond apex to print lower is being looked at. Evidence is definitely pointing to that as a possible scenario. [see bottom chart- looks a tad outrageous but that never stopped us before- more data is beginning to show up in favor]. Either way, the diamond looks to be holding it's trend lines.
Flags will be posted here when a top is detected. (1/25/20, 2/20/20)
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
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