Look at these two fractals. Almost an exact smaller version of the previous pattern. I would expect it to play out about the same with eventual lower prices.....
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I'm still looking to take off more of my long position around $7,550 or so. Many are calling for at least $7,700. I'm not one to be that greedy especially since it will have to break through a down trend line to get that high. Maybe it will, maybe it won't. All I can take is what I see in front of me.
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I actually took it off closer to $7,500 as we bounced of the upper line of the wedge (not shown) and started to slide back down not making $7,550. Will it go back to that level? I don't care, the money is in the bank. :)
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Trying to paste a snapshot for the first time. (Of the upper wedge line)
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Strange, the line didn't show up right. Try again...
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The Daily chart
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It looks like it might be setting up for another "cup and sausage" pattern. If you don't know what that means, see my other ideas. :)
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So far bailing on my long when I did looks to have been a good idea....
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Push the "Play" button on my original 2 Circle chart above. The fractal is playing out almost identical !
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Was 24 hours "soon" enough?
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I don't think I could have made a better call if I had done it myself. Oh wait, I did call it myself. :D