Candlestick patterns may not repeat exactly, but they rhyme!
Last Friday AKE sp went down to the SOW level. It also broke down the EMA 100 line; a very bearish sign. And because I believe AKE is still in Phase B of Wyckoff Distribution Phase, that the sp reached as low as the SOW after the Upthrust is a breach of Wyckoff Distribution schematic. The structure is obviously on the verge of a total breakdown.
But I believe the seemingly breaking down structure will be rebuilding this week. The reason for my belief is that there are two precedents showing how such a structure recovers to reach a UTAD. The first one is from July - November 2021 and the second one is from March - May 2022. The first one is stretched out and the second one is compressed.
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Candlestick patterns may not repeat exactly, but they rhyme!Last...
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