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.
good calculate Weldon and keep it up, downside 54.50 before completing a larger C wave (purple waves) to 1.618 at 5450 area. but I think 64 is the B wave end. anyway thank you
therancher
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Nice charting!
Joseph_King
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@therancher, Thank you :) I had some zig zag wave ideas that went below $60 but every time we get near that area we bounce, had me thinking about the descending triangle.