There is a descending triangle forming until the election, so it will either go up OR down from there. (so not necessarily a short strategy; it could go long) But hopefully, closer to that time, indicators will give a direction.
تعليق
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When I posted this idea, this is what I was ANTICIPATING would happen. It was NOT a descending triangle just yet as I needed some more points to solidify the triangle.
@wordsforthewise, yah... so far.. it is holding the pattern. This is just what I am anticipating will happen. Obviously, this pattern could change. We will see what happens in the upcoming weeks.
all these triangles seem to lead to 10-14 days from now...TSLA, SLV, BTC, ETH
wordsforthewise
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so wouldn't this be bullish when it breaks? Looks like it should have another leg down or so. Doesn't it need to close the gaps though before increasing?
Princessgirl
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@wordsforthewise, I'm not sure. I understood that it could either break up or break down. And that it can break up or down from 2/3 of the triangle to the tip.
Triston27
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Not a descending triangle
Princessgirl
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@Triston27, (Sorry I saw your post last week, but I have been swamped with work lately.) You are VERY correct. It was not a descending triangle at that time and my chart was premature on Sept 29th. And at the time, I should have closed this trade on the chart or made some adjustments to this chart. On Sept 29, I was EXPECTING it to be a descending triangle and I should have either waited until the second/top point or mentioned in my chart that this is what the chart formation I was anticipating.
Thank you for commenting on the fact that this was NOT a descending triangle. It helped me correct some of my mistakes in trading and posting charts. ;-)