I have a couple of triangle ideas, this descending and another symmetrical which I'll try to post later.
This one we're in a descending triangle ABCDE pattern that may have complete E wave last night at 6012. The triangle should break to the upside as the trend prior to entering was up.
May be part of a larger ABC (orange waves) that could double top at 6420 and trendline support, before completing a larger C wave (purple waves) to 1.618 at 5450 area.
The symmetrical triangle idea I have breaks to the downside.
This one we're in a descending triangle ABCDE pattern that may have complete E wave last night at 6012. The triangle should break to the upside as the trend prior to entering was up.
May be part of a larger ABC (orange waves) that could double top at 6420 and trendline support, before completing a larger C wave (purple waves) to 1.618 at 5450 area.
The symmetrical triangle idea I have breaks to the downside.
Comment:
Trendline resistance, not support :)