So Many Great Principles of Chart Patterns Here
The principles you find here are:
1. The rise looks like the run , i.e. the consolidation (diamond) leads to a proportionate rise vertically.
2. The consolidation can be projected using Fibs from its highest-lowest starting from the breakout level.
3. The sequence of a bubble such as this often follows Hubert Senters' (1-2-3) "bang-bang-pow" formulation where the first two are your average flags with continuation and then the third is parabolic and can be equal to the distance of the first two waves.
4. This one has a 1-2-3 buried in the consolidation phase as well. It's important to remember the market is a fractal.
5. The breakout level is a natural attractant for such parabolic moves and can be a support area (as it appears to be again).
Earnings this week, so note the way the pattern began in the earlier (fractal) consolidation. Time will tell if this is the beginning of a new consolidation phase after the recent large decline.
1. The rise looks like the run , i.e. the consolidation (diamond) leads to a proportionate rise vertically.
2. The consolidation can be projected using Fibs from its highest-lowest starting from the breakout level.
3. The sequence of a bubble such as this often follows Hubert Senters' (1-2-3) "bang-bang-pow" formulation where the first two are your average flags with continuation and then the third is parabolic and can be equal to the distance of the first two waves.
4. This one has a 1-2-3 buried in the consolidation phase as well. It's important to remember the market is a fractal.
5. The breakout level is a natural attractant for such parabolic moves and can be a support area (as it appears to be again).
Earnings this week, so note the way the pattern began in the earlier (fractal) consolidation. Time will tell if this is the beginning of a new consolidation phase after the recent large decline.
Comment:
Earnings already happened. Not sure where I got that info from. Still like it for a pop.
