(Click On Chart To Enlarge)
QXM broke out of an Ascending Triangle to the downside on October 29, putting a target of 9.80 IN PLAY.
Math:
12.36 - (The more conservative of the 12.36 - 12-40 highs)
10.44 - The low of the pattern
12.36 - 10.44 = 1.92 points, subtracted from 11.72, the point of the breakdown =
Target: 9.80 IN PLAY
This morning's low thus far is 9.85, within range of the target. QXM has recovered back above 10.00, indicating that a low "could be" in.
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