I should have placed these arrows in too for a visual of what I am expecting. Of course this isn't going to be exact but I show how I planned it to bounce off the fib (purple fibs) and will bang against the upper purple fib before the decline. So I still do expect 1 more upward movement before the dump. Be sure to listen for news because news will trump all TA. I wouldn't place any short below the next upper purple fib from here though and a long is pretty risky here, being between 2 fibs. Beware that there is lots of room for this to wick under the Triangle (see the red circle where I typed "wick")
(I call this a long (though I am short) because in the end, there will be a bull run after this hits the bottom of the triangle. I'm not longing until then. (though I have opened a long-hedge when it bounce off the lower fib. I plan on taking profits at the next upper fib and closing it when there is downward momentum.)
(I call this a long (though I am short) because in the end, there will be a bull run after this hits the bottom of the triangle. I'm not longing until then. (though I have opened a long-hedge when it bounce off the lower fib. I plan on taking profits at the next upper fib and closing it when there is downward momentum.)