Crash Pattern Forming on Dow Jones? Rising Wedge 2025?
I was just studying my charts and I just happened to see this pattern jump out at me regarding 2000-2008 that looks so very similar to today. If this pattern is indeed going to play out for a 40% crash then I need to sell all my Long portfolio ASAP. I do not want to get caught in this
Compare 2008 below to today
Both have a 16 degree rising wedge pattern
Again, I want to be bullish and for it to go up but if this is the pattern that is indeed playing out, I need to get out of the way. I don't want to sell my Long portfolio in anticipation of this but at the same time, I don't want to get steamrolled by this either.
Why would they repeat the same pattern twice in a row is my question?
Let me know your thoughts. Am I dumb for seeing this? Thank you all.
Compare 2008 below to today
Both have a 16 degree rising wedge pattern
Again, I want to be bullish and for it to go up but if this is the pattern that is indeed playing out, I need to get out of the way. I don't want to sell my Long portfolio in anticipation of this but at the same time, I don't want to get steamrolled by this either.
Why would they repeat the same pattern twice in a row is my question?
Let me know your thoughts. Am I dumb for seeing this? Thank you all.
Note
If next week is a doji of sorts with little to no follow through, then this is a HUGE red flag as a Bull Pin Hammer should have major follow through. If price ranges and falls back in the previous highs, then this would be a false break reversal at the highs and the sell off could ensue.
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