We are currently stuck in a series of 3 triangles (red, white blue)
The mid sized triangle is colored white and and is currently giving us resistance to the upside
-a breakout up from the blue and white triangles should lead to a test of the R1 which coincides with the largest of the three triangles (red)
- failure to break out of white triangle should lead to a breakdown and a test of support
Overall, every day we inch closer to the apex of the large bearish descending triangle (red) that everyone has been keeping an eye on...there is a lot of anticipation built into the market and the next couple months should be very interesting.
Red Boar
The mid sized triangle is colored white and and is currently giving us resistance to the upside
-a breakout up from the blue and white triangles should lead to a test of the R1 which coincides with the largest of the three triangles (red)
- failure to break out of white triangle should lead to a breakdown and a test of support
Overall, every day we inch closer to the apex of the large bearish descending triangle (red) that everyone has been keeping an eye on...there is a lot of anticipation built into the market and the next couple months should be very interesting.
Red Boar
Comment:
Currently approaching initial target of 6540 after blue triangle breakdown, a retest of 6685 would make alot of sense here, placing short up to there
Comment:
We are currently slicing through my first targe on our way down to test white triangle bottom, next support 6350
Comment:
Well guys I am going to go ahead and shut down this as far as updates go I suppose. Our target final target was pretty much hit last night, less than 48 hours after publication of this chart. I am a little dissapointed in the lack of views we have gotten but Oh well, Thank you to all of you who have gave me a like or a comment, I appreciate your support.
Comment:
Trade closed target reached
Trade closed target reached