We are coming to the end of terrifyingly horrific 3 day bearish pennant! Low basing it badly! I feel a bad drop is coming shortly! Save yourselves! I'm just sitting in cash for this, but it does look like a good short if that's your thing!
Comment:
It broke down out of my 3 day pennant already! Have to keep an eye on this one! Major support is really not all that far down at this point, so I will just keep playing it safe for now!
Trade closed: stop reached:
If I were in a short, I'd get out, but still playing it safe for now.
Comment:
Yup. Being in cash was definitely the right move, at least if you're like me, and not into these sudden, fast moves up and down. The 2 day ichimoku red was like a limp noodle all along, and price pretty much had to come back down, for now at least.