This setup is a wonderful setup and works. You can call it whatever you want, you could call it wave 2 in Elliott Wave (which it is actually but doesn't necessarily have to be) but I like the Pinball metaphor myself.
How it works:
I should also add that since the resent downturn, my previous analysis is thrown out. This setup works and is proven when the high (letter B) is broken to the upside.
Also...... it works in reverse.
You could also call this setup lazy persons ........ Elliott Wave.
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So in ending........ Use critical thinking and think for yourself.