Why might the latest pennant be such a different beast to the previous ones?
Was wondering the same. A larger, similar shaped pennant could be seen if we were still to have another capitulation event. Which would mean the all in moment would be quite a while from now.
That pennant theory is long gone.
That graph is from march 2014...
I believe he was posting that to show others have tried to use historical patterns to predict the price and have failed miserably.
yeah don't post it again, if not to highlight the immense amount of fail
here is how that looks in hindsight