Frightening Similarities between the March and June Rallies
• The biggest cliché in trading is that “History doesn’t repeat but it sure does rhyme”.
• So, for fun, I copied the march rally fractal and pasted it to the current rally. What do you know? It does rhyme.
• Of course, we need to monitor this rally as if it is isolated but, just for fun, let’s see what we can see:
1. If the march fractal repeats/rhymes, then resistance is at the 33K level.
2. The pull back will be shallow, between the 0.236 – 0.382 fib retracements, to the 30K region.
3. We will then push above the 33K level, consolidate and push up to the 1:1 extension at 39K.
• Treat this Idea as a possibility. We are traders; we keep an open mind. If, If it plays out similarly, it will be mind-blowing.
NFA
What do you think? Please share in the comments.
Best wishes to all.
• So, for fun, I copied the march rally fractal and pasted it to the current rally. What do you know? It does rhyme.
• Of course, we need to monitor this rally as if it is isolated but, just for fun, let’s see what we can see:
1. If the march fractal repeats/rhymes, then resistance is at the 33K level.
2. The pull back will be shallow, between the 0.236 – 0.382 fib retracements, to the 30K region.
3. We will then push above the 33K level, consolidate and push up to the 1:1 extension at 39K.
• Treat this Idea as a possibility. We are traders; we keep an open mind. If, If it plays out similarly, it will be mind-blowing.
NFA
What do you think? Please share in the comments.
Best wishes to all.
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