Comments on the chart. As I said on the chart the invalivation point is price breaking the upper boundary of the structure. Another thing is the stochastic is turning up from the lows which could be immediately bullish. I am going to play this one as a short from higher up if I can get it
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Missed out on a good downmove today because I was looking for a better short entry. My participation in this idea has to be postponed to when price breaks down below the structure or if we still get that retracement
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price fell hard againg today making me think the predicted wave 3 on the chart is actually happening now. And I have missed it all. Disaster. Needless to say I am still looking downwwards
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more downside price action today. Price is now just about 20 points off the bottom of the triangle structure
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Price has now touched the bottom of the structure and bounced off it. I am still bearish but the upmove is not unexpected. If this idea is correct after a retracement price will go on to breakdown out of the structure.
