My previous hypothesis of a sharp correction (scenario 3) looks to be incorrect. I believe the most likely corrective structure is a contracting triangle at this point (scenario 1), and the last leg should be bought for new ATH, however, it is also possible we had the last major low for this correction and new ATH are imminent (scenario 2)—which will be on the table if the indicated line gets taken out. In any case, new ATH should occur shortly!
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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.