For those curious as to how that pattern was calculated, It is a...

For those curious as to how that pattern was calculated, It is a 5 wave Elliott impulse pattern & a 3 step A-B-C correction pattern. The rules are:

1. W3 is 160% of W1 starting from W2.
2. W2 should be no more than a 78% retrace of W1 and at least 38%
3. W4 should be up to 38% retrace of W3
4. W5 should be either the height of W1 added to the bottom of W4 OR 160% of W4 (there are other guides for W5 but these are the two I used here)
5. WA of the correction pattern should be in the top half of the support channel and not below the top of W3
6. WC of the correction pattern should be somewhere in the lower half of the support channel and (in a rising wave sequence) not below the bottom of W4)
7. The support channel is created by creating a parallel channel from the start of W1 to the bottom of W2 and the upper edge touching the top of W1, then extended out through W5 & the correction pattern.
8. Timing is based off a fib timing sequence based on the length of time between the start of W1 & bottom of W2, but they are always a bit iffy and should not be relied on in my experience.
9. Elloitt waves are fractals so there is an EW impulse pattern in each wave in progressively shorter time periods. Eg W1 & W3 & W5 will contain 5 step EW patterns within them and this entire sequence will be part of a weekly EW pattern which is part of a monthly pattern, etc.
10. You can also get reverse impulse patterns of 5 waves down.
11. There are many other specialised patterns within the approach which are recognisable when you know them - in particular it is worth understanding ending triangles to help avoid getting obliterated when W5 turns into a correction.
12. W3 can not be the shortest wave and must be at least 160% of W1, otherwise the 5 step pattern will likely fail and W5 will likely not reach its expected target (might even be below W3 or hit the W3 target or may reach W3 giving a double top and then fail dramatically). W5 forecast and trading is the highest risk.