Theta Channel - Log Version (Rainbow)
Here are the Fibonachi levels for a logarithmic view of Theta.
Ever breakout since the First breakout, every following breakout has lost a little steam and has not hit the same height of fib growth.
This breakout is targeting .5 Fib and looks to be rejecting the channel mentioned in the link below, so may not even make it.
Also note that if we do get rejected on the channel, it will complete the head of a potential head and shoulders pattern on the hour chart.
Potential Head and Shoulders:
Ever breakout since the First breakout, every following breakout has lost a little steam and has not hit the same height of fib growth.
This breakout is targeting .5 Fib and looks to be rejecting the channel mentioned in the link below, so may not even make it.
Also note that if we do get rejected on the channel, it will complete the head of a potential head and shoulders pattern on the hour chart.
Potential Head and Shoulders:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.