So we bounced off 0.5 instead of 0.618 like I predicted. Depending on movement in the next 3 hours, we'll either break out of the triangle upwards or continue the triangle downwards. I'm more towards the second as it would take major news to break the 650-570 resistance. I've set a buy order for 615 which coincides with a 0.5 retracement, and will (hopefully) sell half of it at 630, keeping the other half in case it breaks out upwards towards 670 before bouncing.
Comments
valleix007
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The reality is really close to your prediction, that's nice !
noscopeprofit
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It's a bit off, and the triangle keeps being extended. We should be seeing a breakout upwards soon as the lower highs are getting higher (the gradient of the slope is increasing, which indicates more demand).