Here in this tutorial/analysis we'll look at accumulation which happens before a next Big leg-up. You can find notes on the chart itself, I'll just explain what happens in terms of Thrust and Momentum during these accumulation phases. White line is line of bears and it measures the momentum (Price difference divided by time taken) of the move while its slant-ness shows the Thrust of the whole move.
In current scenario you can see how bears are losing momentum after every move. To keep this theory validated we should not print any Lower low from here and go sideways for time being to weaken even more bears.
Remember this thesis will work on higher timeframe chart which has gone through a significant price decline over time. BASICALLY USEFUL IN SPOTTING REVERSALS.
You can check out the previous bottom which occurred in Jan-Feb 2019 by sliding left in the chart.
In current scenario you can see how bears are losing momentum after every move. To keep this theory validated we should not print any Lower low from here and go sideways for time being to weaken even more bears.
Remember this thesis will work on higher timeframe chart which has gone through a significant price decline over time. BASICALLY USEFUL IN SPOTTING REVERSALS.
You can check out the previous bottom which occurred in Jan-Feb 2019 by sliding left in the chart.
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Higher high printed, Longed the retest of 8540. Trade updates on telegram @tychelab.
