Hey guys, sweet Descending Triangle Pattern and as we know it's a downtrend continuation pattern so movements are predicted with arrows...
Red Boxes indicates support range and as we see Fibonacci Retracement, the market has tested the golden ratio of 0.32 and now here we have two scenarios -
1) The market we move as per our arrow indicated.
2) Most probably the market will test 0.5 fib ratio and then again move down...
Red Boxes indicates support range and as we see Fibonacci Retracement, the market has tested the golden ratio of 0.32 and now here we have two scenarios -
1) The market we move as per our arrow indicated.
2) Most probably the market will test 0.5 fib ratio and then again move down...
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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.