We all know this, but it’s good to keep reminding yourself (especially bearing in mind the post by KenS). If $1240 fails, the larger (orange) symmetrical triangle comes into play. If that happens, we’re looking in the $1150-$1160 region for final support. If that were to fail, price would plunge to the old lows and maybe further. I strongly believe this won’t happen, but you have to be aware of ALL possible scenarios.