Tying together a few ideas:
1) Price Channel
2) Mid-cycle correction to the 1.618 fib level (h/t misconfig_exe & BCBacker)
3) Roughly 85% correction from cycle top to bear cycle bottom during each cycle (h/t BCBacker)
4) Weekly high prior to mid-cycle correct acts as bottom of next bear cycle
1) Price Channel
2) Mid-cycle correction to the 1.618 fib level (h/t misconfig_exe & BCBacker)
3) Roughly 85% correction from cycle top to bear cycle bottom during each cycle (h/t BCBacker)
4) Weekly high prior to mid-cycle correct acts as bottom of next bear cycle
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.