Symmetry: I use 12119 as a centerline for the symmetry. Let's look at a larger picture on the daily chart. 12119 is the key R/S line and also the 0.5 retracement line of prior swing from A to B, which I found meaningful most of the time. Below the centerline, the market is seen weaker; above the centerline, the market is seen stronger. Therefore, I will set my short-term price goal at 13485.
What if the up trend channel broke?
There are two situations.
1. The price is below the up trend channel but still above the centerline. → Uncertainties become more. Better wait for the price to be back to the channel or more clear signals to enter a trade.
2. The price drops even more below the centerline. → If the price drops below the center line, I see the symmetry broke. By then I will pay more attention to possible triangle forming.
**Not Financial Advice**
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.