Probable VCP ?
Volatility has contracted on 15 min chart along with congestion in RSI. 2nd Rise was on back of contracting range. Initial fall in 3 rd attempt was on high range but later range contracted. Only 1st fall and rise had seen some big range candles on 15 min chart.
2nd retracement of 50% of 1 st rise. 3rd retracement is already 50% of 2nd rise and just away from 25% of 1st rise. Now it will be interesting to see 100% -50% -25% of 1st rise which itself will be confirmation of contraction in volatility. Narrow range candles are another confirmatio.
2nd retracement of 50% of 1 st rise. 3rd retracement is already 50% of 2nd rise and just away from 25% of 1st rise. Now it will be interesting to see 100% -50% -25% of 1st rise which itself will be confirmation of contraction in volatility. Narrow range candles are another confirmatio.
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