2. 3MA Contraction (1H-) likely reversal,
contraction (2H-) preparing for shoulder expansion
3. RSI/Stoch/+, Neutral (2H-) > Uptrend (4H) > Extremely Overbought (Daily)
4. downtrend and crossover for shoulder, signal & zero line cross (4H-),
Large reversal and coming crossover (1D)
5. 2 Green cloud passes (prep for 3rd), into Red cloud for Shoulder, supported by 4H cloud.
Cloud support (1D) at bottom of right shoulder
A formation seems to be appearing, signalling a new downtrend:
-Completely over extended away from moving average support (1D), Contraction and reversal crossover (1H-) signalling strong downtrend.
-Strong contraction on (2H-) for the right shoulder expansion.
-Extremely overbought on RSI/Stoch/Both (1D) signalling huge longterm selloff. https://i.imgur.com/sauPMh7.png
Mixed signals on 4H- trends, possibility for downward or upward movement before/into shoulder.
-Large reversal and crossover for Daily trend reversal, 4H- reversal for shoulder.
Overall downtrend in trends.
-2 green cloud passes likely preparing for third and final pass.
Intermediate Red cloud pass is likely, for the shoulder, right into green 4H cloud.
Daily cloud support at the bottom of retracement.
-Volume compression preparing for move into selloff
~20K shoulder resistance, down to ~15k neckline .
*(4H-) means anything on the 4 Hour or lower (4H, 3H, 30min, etc.) time frame.