The point of the triangle corresponds with a level of triple confluence on the fibs, so this will act either as strong support or resistance. A bounce or breakdown through that level is likely to be important. If it exits the top of the triangle there is another, larger triangle to consolidate within. I expect it will retrace then make an impulsive, wave.
I invite any comments,
The move from the ATH now looks more impulsive than corrective, which is a worry, I need to spend some time with this one and work out what technical indications might prove useful.
Given what going to the 100% extension means, I am hopeful and have a reasonable amount of faith that the 0.786 level is the bottom. I still have my long position open at 1.9
So, there you go, hopefully now you see!
The bullish wave which started at 20th December obviously requires more history on the chart. Take a look at a chart which includes that data and hopefully it is obvious.