yep, but it's the same pattern we post in almost every weekend
newsletter for the last few months, minus all the sensational
commentary on the chart. It's a well spotted pattern by most
technicians. Price had a pinocchio move above the upper
expanded coil trendline last month and quickly reversed back down
.
it's interesting but not something you can trade off, I find
most people don't have the patience even for a daily chart much
less a monthly chart. Could price eventually go all the way to the
bottom of that pattern? yes price could do that, or price could
just chop around sideways and form into something else. Being a
monthly chart could take many months or a couple years to find out.
Best to focus on daily charts for triggers for your actually
trading and leave these to the prognosticators
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Very interesting and big megaphone.
DJIA Weekly Close. The uptrend line from June 2020 has ...
Posted by puma on 30th of Oct 2020 at 11:16 pm
Very interesting and big megaphone. Thanks for posting.
yep, but it's the same
Posted by matt on 31st of Oct 2020 at 11:41 am
yep, but it's the same pattern we post in almost every weekend newsletter for the last few months, minus all the sensational commentary on the chart. It's a well spotted pattern by most technicians. Price had a pinocchio move above the upper expanded coil trendline last month and quickly reversed back down .
it's interesting but not something you can trade off, I find most people don't have the patience even for a daily chart much less a monthly chart. Could price eventually go all the way to the bottom of that pattern? yes price could do that, or price could just chop around sideways and form into something else. Being a monthly chart could take many months or a couple years to find out. Best to focus on daily charts for triggers for your actually trading and leave these to the prognosticators