QQQ
As you see the price action, we are obviously in the Distribution phase.
The distribution phase begins as the markup phase ends and price enters another range period. The shares are being sold over a period of time—the opposite of accumulation. This time, the sellers want to maintain higher prices until the shares are sold.
Whether it is distribution or accumulation is less easy to discern at this point. It is more important to be prepared for the next signal, rather than trying to predict the next move.
One of the most common distribution patterns is known as the head-and-shoulders pattern (Figure 9). Rounding or a dome shape (Figure 10) indicates distribution preceding the markdown stage.
source: Investopedia
www.investopedia.com...s/d/distribution.asp
*This is my idea and could be wrong 100%
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Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
