Long-term patterns
I am a bit of a skeptic of patterns that I just don’t see that often, while showing some respect for a pattern that could change the current from north to south.
The Broadening Pattern is one of the basic patterns. It has no inverse pattern. It is only a top. Volume should become more aggressive with each swing until the bears win; or the pattern simply fails.
Notice that it is a long-term chart and moves rather slowly. Also, with higher highs and lower lows the final resolution will require a break of one of these lines (gets increasingly difficult).
I present this pattern as a point of discussion. I realize that if you are bullish on the market, you will likely reject the pattern as it goes against your beliefs and if you are bearish you may well embrace it as a confirmation of your views. Either way, there it is.
Objective: back to the top of the 2016 double bottom; wave 4, p&f, height of pattern.