Either "W" Formation -OR- Classic Flat Structure Accumulation

We are still in a Wyckoff Accumulation Schematic. However, an "Ascending Channel" has been ruled out as the TYPE of Accumulation Schematic. Now, we are either in a "W" Formation or a Classic "Flat Structure" that's also referred to as a "Cup & Handle." What will determine if we are in a "W" Formation or "Classic Cup & Handle" will be WHAT price level we go up to by year end. If we go up ONLY to Preliminary Support (Resistance) Level before falling into consolidation, then we will be in a "Classic Cup & Handle." If we bust up ABOVE Preliminary Support Level with a "Sign of Strength" before falling into consolidation at a HIGHER trading range, THEN that will mean we were in a "W" Formation.

Yorum:

The "W" Formation I'm referring to is called "Double Bottom" in the image provided: i.imgur.com/D1fHpTN.jpg

Yorum:

By the way, "Head and Shoulders" on that image SHOULD be called, "INVERSE Head and Shoulders."