This pattern is considered a bearish pattern but wildly bullish while within the pattern because of the incline. Eventually, this pattern will break but we could see a spike before that happens. Most broadening patterns end at #6 with a big bounce and abrupt crash. My count may be off and perhaps we haven't even reached a #5 yet. That would indicate more strength ahead but the overall picture of this is... massive correction likely over the next few years. Red arrow is my 80% likely forecast but does green arrow play out first? I think it could..but again, this pattern usually doesn't end well once complete!
Note
pink lines show a diamond top looking pattern and price broke above it.. it's either a clever fakeout or it's about to move up strong.. but I'm not bullish on Google from here. We're at all-time highs with historically low volume... it's a recipe for the perfect crash. Note
volume dried up Note
anything could happen... careful Note
let me rephrase what I said back on Feb 14.. YES, it did happen. Look at my purple fractal
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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.