After a massive decline from 90+ we now find us in the 4th or 5th wave consolidation
I believe and so does the RBA that we have more downward movement yet to come
Regardless we have a nice Rising wedge/ Ending Diag forming
I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way
Or wait for it to break under the trendline (lower risk) as with ending diags/rising wedges ..expect a retrace to the origin for a good 90 point move
I believe and so does the RBA that we have more downward movement yet to come
Regardless we have a nice Rising wedge/ Ending Diag forming
I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way
Or wait for it to break under the trendline (lower risk) as with ending diags/rising wedges ..expect a retrace to the origin for a good 90 point move
mustard
So your recommendation is what?
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YipYip
mustard
The safest trade would wait for the break under the trendline ..A more aggressive will be to short the next cycle top (im more aggressive ) ;)
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LumbridgeCity
Awesome chart. Up a wee bit from here but generally a market setup I wouldn't be trading.
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joehlmann
Could it break higher ?
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JustinScott
This is working out nicely ty ;)
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