The similarities to the move from last year is pretty recognizable. We consolidated around 7-8 and have moved up to 12. This year is a little higher than last year, but I see us in wave (3) of (5). Wave 5 should take us back to 17-18.5, filling the gap at 16.52 (highlighted by red arrow).
I hesitate to say it will be exactly like last year, but so far, the price action in the same ranges has behaved similarly, so go with it until proven otherwise.
Invalidate this idea if daily close below (2) (10.65)
I hesitate to say it will be exactly like last year, but so far, the price action in the same ranges has behaved similarly, so go with it until proven otherwise.
Invalidate this idea if daily close below (2) (10.65)
Note
Zoomed in and hiding the ihs pattern
Related publications
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.
Related publications
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.