On the 1H chart we have a pretty nice formation, whatever you want to call it, they both mean the same thing.
It signifies that the trend is coming to an end.
Most importantly is the third impulse - third top or the second shoulder - and that it is the lowest of the three.
To me, that shows that bulls are slowing down and bears are entering the market.
It signifies that the trend is coming to an end.
Most importantly is the third impulse - third top or the second shoulder - and that it is the lowest of the three.
To me, that shows that bulls are slowing down and bears are entering the market.
Note
First 2 targets hit, halfway down to the third oneNote
Ayee cha-ching
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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.