Saw this forming to confirm a breakout to the down side. Interesting as it did bounce off the support before breaking. The engulfing candle at '4' follow by 'Evening Star' was a dead giveaway of the direction. Does This make sense to anyone?
Really trying to understand these patterns. 1, 4, 5 are within the fib 0.618 - .50 range. So is this right or am I way off here. Any help would be greatly appreciated.