I did a simple calculation based on market top in 2007 using a weekly chart. After the uptrend line was broken, price fell 9.25% away from the uptrend line below rebounding to re-test the support-turned-resistance trendline.
The bullish marubozu bar did close above the trendline but next weekly bar was a DOJI closed below the trendline - not good. And subsequently a bearish marubozu bar which resulted in an evening star pattern. The rest is history.
Now we are again 1/3 very identical to 2007 top again. We just had a weekly bullish bar close slight right above the uptrend line which is why i said we are 33.33% closer. If next weekly bar is a DOJI with a close below that trendline (from 2009), then we would have 66.66% closer to repeat of history.
It would be even exciting next two weeks, i GUARANTEE you!
Cheers
The bullish marubozu bar did close above the trendline but next weekly bar was a DOJI closed below the trendline - not good. And subsequently a bearish marubozu bar which resulted in an evening star pattern. The rest is history.
Now we are again 1/3 very identical to 2007 top again. We just had a weekly bullish bar close slight right above the uptrend line which is why i said we are 33.33% closer. If next weekly bar is a DOJI with a close below that trendline (from 2009), then we would have 66.66% closer to repeat of history.
It would be even exciting next two weeks, i GUARANTEE you!
Cheers
