I'm expecting another break downwards out of this triangle because after a big impulse break like we had we can expect most any triangle to be a continuation and not reversal. I'm expecting 7k.
After that solid break we can expect it to fall further mostly because it needs to fill the gaps and hit further supports. And because it needs to complete the elliot correction waves.
I think we are going to see 7k support once it breaks out of this triangle.
After that solid break we can expect it to fall further mostly because it needs to fill the gaps and hit further supports. And because it needs to complete the elliot correction waves.
I think we are going to see 7k support once it breaks out of this triangle.
Comment:
Broke out underneath. Didnt quite close 2 candles on the 4hr. And formed a bear trap. Should continue upward and will watch close
