You can easily tell if line/pattern is subjective or valid. IMO
If price action doesn't respect my lines, resistances = they are probably not valid.
The line @h00ts drew got respected by bunch of candles before, during and after false breakout.
The false breakout candle extends pattern to next catalyst event: HY report.
Thus it's fairly certain the pattern, old and new lines are valid.
Your 23.6 retrace gets respected by bunch of candles, for example.
Then there is 4.98 resistance no candle cares about.
The widening wedge looks more like something made to fit with lines than made by price action. It doesn't extend your previous pattern to any catalyst event, etc. Making it low probability of being valid.
Thus probably won't be respected by follow up candles either.
My 2 cents on chartist pillow fight
PLS chart, page-12835
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