Price TA... Uncommon and possibly big indication... "3x top below significant high"

I've seen this before.. it may be BIG if it holds... Perhaps a "buy the rumor, sell the fact" kind of thing?

Could be the election marks a trading top... likely not 'THE' big top... but good enough for a significant down-swing trade??

I don't recall having posted a daily chart before... but as you can see, Price TA works on daily bars as well as intraday.


FWIW....

 

You've seen this before because its the classic dinosaur chart pattern lol.

 

Can't you just open a TA thread where you post your stuff instead of spamming this forum with a new thread every other week.

 

Good Morning Scataphagos,

Nice chart. I love it.

 

It could also be a fairly uncommon ending triangle (fifth wave). This is the only impulse wave where it's allowed for the fourth wave to splash under the peak of the first wave.

 

You are qualified to mentor the OP.

 

Somebody call the Nasdaq 100 and tell them to hold off on $300bn in buybacks cause there’s a triple top.

 

Any technical setup is just a trade play until it morphs into something else... if it does.

 

If you see such a pattern, it means the market might

- continue to go up
- reverse direction and go down
- go sideways

 

fail. hard.