Technical Trading Tips and Techniques by 
(Please click on the accompanying chart to enlarge.)
This is an evening blog post after the second busy day of events at the International Traders Expo. I have been watching the rough triangle consolidation form within the past couple of weeks and days, and the borders of this triangle have been holding true thus far. It is roughly a descending triangle, although the bottom border is not perfectly horizontal. Traders looking at this triangle to be a continuation pattern are watching very closely now for a strong breakdown and close below the bottom border. Currently, as of Thursday evening in Las Vegas, price is hugging the bottom border. Friday morning will dictate whether this support holds or is broken down for a potential bearish run. In the event of a move below strong support around 1.2330, price could target further support in the 1.2200 region.
Very helpful and we will all watch closely for a move..Hope you having fun in vegas
Hi Terry! Thanks for the comment. Just got back from Vegas, and it was a great time. Met many people and did a bunch of presentations. But I’m very glad to be back!
James