I posted this chart last June, and it is playing out beautifully in the concept of Reverse Point Waves, as Welles Wider called them, and as other people call broadening tops, "spandos" (Don Wolanchuk) and "pointers" (Steve G).
I have studied and learned an awful lot from all of them about this important form of analysis, but particularly from Steve G who developed the concept into the core of a fantastic trading system in all time frames . Thanks guys!
In any event the chart had a 5 point reversal formation very long term into the high and then a 4 point continuation UNDER that high as an upward correction before falling again. There are other "pointers" visible on that chart, but the ones that are labeled are key.
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