We will do this one more time, identifying the most recent structure(s) the market has moved from.
Note that the overall pattern for this year has been a wedge with a break-out in to another wedge. This has repeated. Note the last wedge is expanding, while the first two were contracting. This we can see defines the market movement for the year and illustrates what has been going on. Note also that each pattern or structure is slightly smaller than the previous.
(continues on chart 6 linked below)
Note that the overall pattern for this year has been a wedge with a break-out in to another wedge. This has repeated. Note the last wedge is expanding, while the first two were contracting. This we can see defines the market movement for the year and illustrates what has been going on. Note also that each pattern or structure is slightly smaller than the previous.
(continues on chart 6 linked below)
Andrew J.D. Long, MFTA
MATASII.com
MATASII.com
