Trader's Logbook

Is ELI about to break loose or it still need to touch the support before doing so? When we saw the two dojis few weeks ago we thought it is the ripe time for it to bounce but that time it failed and try to construction a continuation pattern called Descending Triangle instead. In most cases this triangle is seen before the price will go down but that is not always the case. There are times that the support is too strong that price will eventually fly. At this point and where the price is, there is a greater chance it will break the resistance. But always be cautious about Descending Triangles.

Caveat!