Bulkowski (2005) claims that the averaged maximum decline before a 20% retracement is 17%; and that prices pullback to the breakout signal price within 30 days 59% of the time. 17% decline from the break of the pattern puts us roughly close to our golden pocket price that everyone i presume (never a good sign) is expecting at $7600 $7400.
It will be interesting to see if this patten plays out, as it is not something i usually watch.
Special thanks to finvids.com for the excellent material on trading!!
I am not a financial advisor, this is solely for education purposes ( don't we all love saying that) ;)