- Yes it invalidates the count and a new analysis would need to be applied
- "An ascending triangle is generally considered to be a continuation pattern, meaning that it is usually found amid a period of consolidation within an uptrend, but it may also occur as a *reversal pattern following a prolonged downtrend. Once the breakout occurs, traders tend to aggressively buy the security and send the price higher on high volume."
*Reversal pattern following a prolonged downtrend
thank you, much appreciated!
My interpretation of the trend is from where the we are entering the triangle. If from top to down, the trend would be bearish and if the entry is from bottom to top the trend would be bullish. This is just my interpretation but as clear i am just a noob.
Best of luck and again thank you for the time.
P.S: just saw your edit now. Thanks alot.
My comment is flagged..i am sorry but i am clearly looking for knowledge. shame on you people,shame on you
Yup have to agree the comment and honest question that links to an actual source of information is flagged!
for what?
Someone feeling the need for censorship of something?
Way too much of this BS on steemit
This is quite an interesting market period.
The Elliot waves for the last 5 count don't really sit well in form but the count can be shoe horned to fit.
We just about pricked the 150 day EMA for a bounce
Both technical boxes ticked but rather unconvincingly
At the same time this could very easily ve a wave 4 before the final drop to bottom.
and here we have a technical triangle which will likely make the decision before the price has to breach ~13k to prove the count invalid.