Final three drives pattern can take us to some pretty sweet profits.
Here's a comparison to the April short Squeeze. Notice the level and intensity of shorts and longs. Bollinger similar, and our wedge pattern finally formed, giving us some support to rely on, and a solid point of breakout. This ascending three drives pattern generally gives us more shorts while the longs tend to fizzle. Exactly what we want to see for a positive explosion of volume.
Look at my previous posts. This is not the bottom, and this does not start THE bull run.
Here's a comparison to the April short Squeeze. Notice the level and intensity of shorts and longs. Bollinger similar, and our wedge pattern finally formed, giving us some support to rely on, and a solid point of breakout. This ascending three drives pattern generally gives us more shorts while the longs tend to fizzle. Exactly what we want to see for a positive explosion of volume.
Look at my previous posts. This is not the bottom, and this does not start THE bull run.
Note
Changing from three drives pattern to gartleyNote
Drew the triangle out a little further this time, was being a little ambitious. Let's see if this bullish gartley holds... will be a huge payout if soNote
Getting close to the final battle. Expanding the triangle one last time (never a fun spot to be in, but always the best return when right.)Note
Called too early. Now we have an even better comparison. Why is this working? Because just like April, the margins were split and very heavy on shorts and longs. Everyone knew something BIG was about to happen
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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.