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Reasons: - Price in Triangle - Price near Suppot/Resistance line - If price will make breakdown bottom part of triangle and support line, then after pullback we can open short - 1st Target 7050 $ and below - Always do your own research
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Nice triangle spotted. Now that it has broken below, is that to be treated as a short confirmation for the short term?
I do have a medium term fibo analysis that signals the current bear trend is yet to end before hitting 1.618 so am thinking to combine your analysis for a better risk reward short/medium term trade.