I see a conflicting all time high here versus Think or Swim. On TOS, the all time high is 246.69. (I draw here but I also use TOS) Sometimes data conflicts and this is one of those times.
To me this is rather data, so I will google what the actual all time high is.
I do not think one would argue the fact that there is a big W on this chart. Ws are known to reverse when they find their target.
So far, the 4th leg of the W has hit right above the 1.113. Nothing says it has to stop here, but since valley 2 is lower than valley 1, it does narrow down the patterns this could be.
Price has long passed the .786, so it is not a Cypher. The Nen-Star terminates near the 1.272 as a rule. If price does not go much higher than where the leg is now, it could be an alternate Shark as this pattern can reverse at the .886 or the 1.113.
The 2nd leg pulled up to the .5 of the 1st leg down so is of no help in differentiating the patterns.
Price bounced back up at the 50% mark of the trend up.
Price is above the .236 of the long trend up since the covid low.
I guess things can be worth a whole lot more during a looming recession than during a pandemic. Dunno.
No recommendation.
Wide gap up well below price with plenty of pockets pivots to provide support so if, or when price falls, it may stall here.
Possible M forming.
To me this is rather data, so I will google what the actual all time high is.
I do not think one would argue the fact that there is a big W on this chart. Ws are known to reverse when they find their target.
So far, the 4th leg of the W has hit right above the 1.113. Nothing says it has to stop here, but since valley 2 is lower than valley 1, it does narrow down the patterns this could be.
Price has long passed the .786, so it is not a Cypher. The Nen-Star terminates near the 1.272 as a rule. If price does not go much higher than where the leg is now, it could be an alternate Shark as this pattern can reverse at the .886 or the 1.113.
The 2nd leg pulled up to the .5 of the 1st leg down so is of no help in differentiating the patterns.
Price bounced back up at the 50% mark of the trend up.
Price is above the .236 of the long trend up since the covid low.
I guess things can be worth a whole lot more during a looming recession than during a pandemic. Dunno.
No recommendation.
Wide gap up well below price with plenty of pockets pivots to provide support so if, or when price falls, it may stall here.
Possible M forming.
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