Haven't really had a chance to read the thread, other than the original post by botfodder.
I must say I am surprised it is still going and kept going over the weekend as I dismissed it immediately as inaccurate TA. No Descending triangle in my book over the period indicated:
1. No clear downward trendline in the period indicated = too many (false) breakouts......
2. Too much "whitespace"
Also
Descending Triangles can lead to a breakout EITHER WAY with a downward move only being 64% of the time.
- Read Bullkowski :)
I am more inclined to look at the larger descending triangle - from LYC's ATH if at all.......
Now I will read Mitta's comments.....coz I wanted to test myself:) lol
descending triangle target 29.5c, page-67
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