$QI Right Angled and Descending Broadening Formation
Beautiful right angled and descending broadening formation here on QI.
We've gotten a retest of the top of the range, and potentially looking at the partial decline here. A retest of the range high, would statistically favor a breakout.
You could target retracement levels into the 618, but the measured move of the bottom is 0.128
Often time these patterns will complete after an upthrust thru the consolidation to the left before they were formed, which would make a final target around .22-.27, more than a 10x from here.
We've gotten a retest of the top of the range, and potentially looking at the partial decline here. A retest of the range high, would statistically favor a breakout.
You could target retracement levels into the 618, but the measured move of the bottom is 0.128
Often time these patterns will complete after an upthrust thru the consolidation to the left before they were formed, which would make a final target around .22-.27, more than a 10x from here.
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