Fan lines are drawn along successive peaks in a downtrend. The breaking of the third fan line usually signals the start of an uptrend.
Short-term retracement to the third fan line is expected as a test it has changed from resistance to support. If support is confirmed, a new uptrend is expected.
Short-term retracement to the third fan line is expected as a test it has changed from resistance to support. If support is confirmed, a new uptrend is expected.