Classic triangle consolidation pattern. In EW, this is considered a B wave, before finishing up with an impulsive C wave. This could be a retrace of the corrective move downwards (since the early 2000s).
Alternatively, if triangle is prematurely broken, this could be an impulsive 3rd wave upwards, where a truncated flat was completed.
Essentially, short on weekly, and look for monster long after.
Alternatively, if triangle is prematurely broken, this could be an impulsive 3rd wave upwards, where a truncated flat was completed.
Essentially, short on weekly, and look for monster long after.
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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.