This triangle broke to the downside.
This pattern is neutral until a trendline is broken.
To get targets for a triangle, some take the wide end and project it down from the trendline (You can draw a trendline and connect the wide end, then use the magnet to project it down or up). This would give you a 100% target but price can fall to lesser fib levels, or fib extensions of 100%. This triangle was wide at the fat end.
A triangle is like a vacuum, price is squeezed in to the apex and price will break one way or the other. Triangles can be a long term patterns or morph in to another pattern. They are considered a consolidation pattern
No recommendation
This pattern is neutral until a trendline is broken.
To get targets for a triangle, some take the wide end and project it down from the trendline (You can draw a trendline and connect the wide end, then use the magnet to project it down or up). This would give you a 100% target but price can fall to lesser fib levels, or fib extensions of 100%. This triangle was wide at the fat end.
A triangle is like a vacuum, price is squeezed in to the apex and price will break one way or the other. Triangles can be a long term patterns or morph in to another pattern. They are considered a consolidation pattern
No recommendation
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