Notice how each impulse wave is getting smaller while bottoming at the 618 retracement.
The first rally was +105%, followed by a drop of -35% (bottomed at the 618)
The second rally was +24%, followed by a drop of -12.8% (bottomed at the 618)
The recent rally off the lows was +9%, followed by a drop of -6% (*potentially* bottomed at the 618)
When price gets this tight (and symmetrical), it usually signals a big move ahead. I am long
The first rally was +105%, followed by a drop of -35% (bottomed at the 618)
The second rally was +24%, followed by a drop of -12.8% (bottomed at the 618)
The recent rally off the lows was +9%, followed by a drop of -6% (*potentially* bottomed at the 618)
When price gets this tight (and symmetrical), it usually signals a big move ahead. I am long
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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.