These are my thoughts for QQQ
In yellow is the structure that is common in two places
In green is the extension from that structure
Both are very similar in length (time wise)
Using this we can apply it to the second "structure"
If we apply a big price drop (bars pattern) it shows a large wedge structure with three bottoms along the wedge.
Short / medium term this would be very Bearish. However, long term a formation like this is setting up price for big times.
The ultimate entry point if this plays out is along the bottom of the wedge (dotted line)
In yellow is the structure that is common in two places
In green is the extension from that structure
Both are very similar in length (time wise)
Using this we can apply it to the second "structure"
If we apply a big price drop (bars pattern) it shows a large wedge structure with three bottoms along the wedge.
Short / medium term this would be very Bearish. However, long term a formation like this is setting up price for big times.
The ultimate entry point if this plays out is along the bottom of the wedge (dotted line)