Dollar: Yen
Since its ALL about the Dollar : Yen
Which is the dominant Triangle ?
Rambus often shows price ping pongs between 2 patterns..
BUT if this top downtrend goes…then it removes all ambiguity
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POSTING INFORMATION
Exactly what I meant earlier fully when I posted at RF. For some reason I can’t post from my work screen to this site!! Strange huh.
That being said I didn’t notice your red down trendline. I would hope it’s not valid and we have broken out up. Would correspond with today’s breakdown in gold. Now to check out Rambus’s updates.
My take would be that although the red triangle is technically bullish (first point of entry hits the underside of the resistance line), it’s actually containing downward momentum, making it bearish. It lies withing a larger, bullish, blue triangle which should win out in the end. I don’t think the ‘spike’ down at the start makes it bearish – it certainly seems to be capping an upward move. Upshot of all of that – ratio may retreat from top of red triangle, but the bullish blue triangle points towards eventual upside breakout. Probably. Maybe 😉