SUNW on the 1 hr chart.
I think I see SUNW going from a descending ABCD pattern immediately into an ascending ABCD pattern.
The last point that could be the second "D" is already above its "B" point.
Not sure if I am wrong or the pattern I am seeing is called something else, but any input would be greatly appreciated.
I made a couple fibs (2 extensions and 1 retracement) to get an idea of the potential PT areas.
It looks like 0.75 - 0.90 is a reasonable range to look at.
If its end point is in that area, I think it is definitely a second ABCD pattern
Let's see what happens!
I think I see SUNW going from a descending ABCD pattern immediately into an ascending ABCD pattern.
The last point that could be the second "D" is already above its "B" point.
Not sure if I am wrong or the pattern I am seeing is called something else, but any input would be greatly appreciated.
I made a couple fibs (2 extensions and 1 retracement) to get an idea of the potential PT areas.
It looks like 0.75 - 0.90 is a reasonable range to look at.
If its end point is in that area, I think it is definitely a second ABCD pattern
Let's see what happens!
So it looks like its gonna eat it after it hits that PT range?