Bullish Scenario.
A lot of similarities in PA vs. pre March 11th. Chart coming on those ideas, a lot to break down.
For a double bust, look for these elements.
Price busts a confirmed ascending triangle for the first time.
Price must move less than 10% before reversing (the move from the red line at D to E, in this example).
After an upward breakout, price closes below the bottom of the ascending triangle (C) or above the top after a downward breakout.
Price then moves at least 10% in the new direction.
If price fails to move at least 10% in the new direction, then it is a triple busted ascending triangle.
What do you all think?
A lot of similarities in PA vs. pre March 11th. Chart coming on those ideas, a lot to break down.
For a double bust, look for these elements.
Price busts a confirmed ascending triangle for the first time.
Price must move less than 10% before reversing (the move from the red line at D to E, in this example).
After an upward breakout, price closes below the bottom of the ascending triangle (C) or above the top after a downward breakout.
Price then moves at least 10% in the new direction.
If price fails to move at least 10% in the new direction, then it is a triple busted ascending triangle.
What do you all think?
