An ascending wedge has been forming since 2016, and gradually has been building up volatility as more market participants get involved. Price is very extended here, which signals for a pullback if not a strong downtrend into the lower bound of the wedge. However, I could be totally wrong and the price could shoot up strongly for a continuation. Let's see how it plays out, but for now, I am yet again short. Stop at 23.83 Target at 22.06
Trade closed: target reached
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Target hit in 1 day, again, I can't complain; the market is treating me well. I will still watch the price action for another entry for a continued down move. There's a lot of room to the lower boundary of this wedge but let's see how the market reacts. It could turn out to be the short of the century...or not.