It certainly does not have to go a lower low. But based on the chart pattern every symmetrical triangle in this downtrend has been followed by a decline in price. If you notice this fractals in play as the triangles diminish in size so do the drops. I expect a sizable jump on the 430-420 range as it tests the long time support. The other option would be for a double bottom at 370 in the form of bull wick and a quick turn around in the 430 levels.
What do you think?
Komentarz
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I wasn't expecting this to break upwards out of the triangle but I am still holding to the idea that we might see a lower low. The price might go as high as 530 and reassume downtrend
@G1979, this is an educated prediction based on fractals. I started the analysis by saying that "Price does not have to go to a lower low necessarily" So I don't understand your comment.
G1979
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@trashpanda19, i don't understand how you put a chart there and say it may go up, but may do one leg down first! So you are right in both scenarios means you don't know! Don't worry, no one knows what will happen next. No one.
trashpanda19
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@G1979, yes you are right, that's why we are here trading views.(no punt intended haha) Everything is possible but the goal is to find out what is the most probable pathway.
G1979
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@trashpanda19, :) i like that! Will you buy my views? If you are trading and UP on money, than continue doing what you doing. My problem is that if you trade, you have to buy once, and when you do that you have calculated that there is a higher chance of going up. That chart i like to see. Real trader. Stop loss, and sell limits, 1, 2, 3! But, we are trading views!
Seb1978CH
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StephySanrio
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Yeah I been thinking maybe a double bottom will give us a higher push up will see!