In 2018 there was an accuracy within 0.25% ($16) of the measured breakdown of the descending triangle . The calculation equaled $3,145 (-48.2%) with the low arriving at $3,129. Based on the 2019 Daily descending triangle , the measured move of -32% takes the price to $6,410, give or take $16. If this Daily triangle is breached to the upside I will calculate the Weekly descending triangle , that has a reduced measured move.
Note
Correction: I'll calculate the Daily descending triangle if the weekly is breached ;-)Trade closed: target reached
It's taken more than two months, but the original bearish target looks complete, at least by a margin or error of $116 (1% approximately).Note
Just noticed we came within $20 of the measured target, that will also do to complete this pattern.Related publications
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.