This shows a clear double diamond setup.
As an update to my previous idea, it's pretty clear that this is a fractal.
The diamond formation is bearish in something like 80-90% of circumstances, so this is a case of fractal diamond regression.
I expect this long-running form to resolve within the month.
As an update to my previous idea, it's pretty clear that this is a fractal.
The diamond formation is bearish in something like 80-90% of circumstances, so this is a case of fractal diamond regression.
I expect this long-running form to resolve within the month.
Note
I consider it possible that we now have a bear flag forming. Wave 1 started on 23rd may, we will get the next 2 peaks concluding over the next 4 weeks in my opinion and then more room to the downside.Note
UPDATE
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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.