If you had seen my last published chart, this one should look very familiar. In-fact, we've had more than one triangle pattern in the last few days and they've all played out exactly as expected. Not much more to say about this one.
Hopefully we see our target two in the coming days. There are many who say that we need to see price revisit the $400 level and find support there. I agree, but god help us if support fails.
EDIT: Before you look at the price action and message me about how the projection has failed, keep in mind: One of the Symmetrical Triangle's characteristics is the "Return to Apex": After the breakout (up or down), the apex can turn into support or resistance. You should be able to witness this many times over in your back-testing. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout.
Hopefully we see our target two in the coming days. There are many who say that we need to see price revisit the $400 level and find support there. I agree, but god help us if support fails.
EDIT: Before you look at the price action and message me about how the projection has failed, keep in mind: One of the Symmetrical Triangle's characteristics is the "Return to Apex": After the breakout (up or down), the apex can turn into support or resistance. You should be able to witness this many times over in your back-testing. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout.