Bullish Fractal - Double Top is on the Horizon
Decided to create a brand new analysis to track the bullish fractal now that we know we are heading to a double top. I am currently short (high risk tight stop) from 11,900 down to 11,100. I have longs laddered in and waiting from 11,100 down to 10,950 at various intervals which I hope will be filled for the final push up to the double top. From there I will switch to shorts (around 13,300-13,500) and short back down to the triangle support. This is where the critical decision is made as to whether we go up (and potential for new ATH) or go bear down to 1.8-3K.
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Likely to hit the 50MA in yellow which coincides with our target for short.
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Diamond reversal should take us down to our 11K target before we then prepare to reach our double top:
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Break down of our diamond top reversal. Created updated analysis.
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Breakdown of diamond top reversal
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Tracking well:
