So the first setup didn't play out, but I think this still has legs because my 3 bounce rule is still in just about in effect. I'm predicting a breakout up to the 1.618 after the next bottom channel bounce. Better to wait for confirmation after the upper channel line is broken.
Perhaps a bit premature still, but this setup has been cropping up a lot for me. 3 bounces off each channel, with the last one breaking out towards the 1.618 retracement of the final leg.
As per description. I've been noticing the triple bounce wedge patterns a lot recently, with target price around the 1.618 retracement. Here's an early shout just for giggles.
