GY we potentially have a Reverse Symmetrical Triangle or a Reversal Expanding Triangle forming.
I like Elder’s description.
The expanding (widening) triangle becomes formed when prices behavior makes a sequence of ascending maximums and descending minimums. This pattern indicates that the market is “getting the state of hysterical instability”. “Bears” and ”bulls” are panicking. Their combat is getting “too hot” for the ascending trend continuation. So to say, the expanding triangle “kills” the ascending trend.
the halifax HPI number is hampering my trend change theory atm... I'm starting to get on board with the concept of hysterical instability. lmao
I like Elder’s description.
The expanding (widening) triangle becomes formed when prices behavior makes a sequence of ascending maximums and descending minimums. This pattern indicates that the market is “getting the state of hysterical instability”. “Bears” and ”bulls” are panicking. Their combat is getting “too hot” for the ascending trend continuation. So to say, the expanding triangle “kills” the ascending trend.
the halifax HPI number is hampering my trend change theory atm... I'm starting to get on board with the concept of hysterical instability. lmao