Major Move down due 29th jan still seems to be on course!My earlier publication using fib fans to predict the dates of major upward or downward moves still seems to be on course, it seems to me market players were trying to poke fun at retail traders yesterday with a tonne of fakeouts/bouncebacks. It makes sense to me that we are facing upward pressure as we were trying to move down too fast, in my experience slower the movement(up or down) the more bars it travels, too much momentum is almost always faced by a reversal(you can probably see volume charts and notice whenever the sell volume is at peak, an upward reversal occurs and vice versa). I'm expecting a downward movement from 33k on 29th Jan.
Note: I'm not making blank statements, this is just my viewpoint according to my analyisis, you could take my advice it may work, it may not, this is only a possibility that I see most likely to occur.
Fibfans
Too early for a drop?I find it a couple days early for a drop, I was anticipating it to happen around the 29th of Jan, as you can see major moves within the wedge have occurred at the fib timezones, I know 30k is a important level after which we can expect a freefall down to 27k maybe even as low as 24k after which a possible reversal may occur.
Let me know in the comments below if you too think it is too early, feel free to share your views in the section below