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snprr,
In the first chart projections I didn't apply anything more than simple logic(tends to work best most of the time) – after 3 rejections from the bottom of the triangle the logical direction was up. A run to the top of the (big) triangle was also needed in order to keep it actual. The third rejection from the triangle’s bottom didn’t make higher high, so the price was expected to go to the nearest support area before a run up (the cross of the good fitted green pitchfork bottom and .2240) -the first light blue arrow. Second blue arrow – the upside move was most likely to fail to brake triangle’s top …it was headed to a multiple resistance congested area(triangle’s top, March 11’s high, 50% of Fibo Fan projection of the move .1375 to .2930 , …etc.). Third blue arrow - the price slid more than expected …that was welcomed in our case.
Hope this helps…
Regards…
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