Of course in technical analysis dogma a descending triangle is supposed to break down, but in the real worls we see these head fakes 80-85% of the time on obvious patterns and as I said last night (after 3 smaller triangles head faked 3 consecutive days in a row in the FX pair), this one would too, probably very early in the morning. It turns out it did so around midnight EDT.
So there's the start of the breakout, I finally have some better trendlines.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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