Take a look at the triangle pattern on the chart. First things first though. The triangle is occurring in a downtrend so that make’s it an invalid trade set up BUT there is the “pieces” of the pattern available to us. This means that instead of playing a breakout/breakdown set up as would normally be the case with a triangle, look at the resistance of the downtrend line (and the Wave!) and the support of the double bottom.
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Using Fibonacci ratios to manage your trades efficiently
by Sunil Mangwani
November 23, 10:00 GMT
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