FTSE 100 (EWU) poised to sell off
According to Bulkowski a has four required properties:
1. Two up sloping
2. Multiple touches
3. Three week minimum
4. trend should be lower
This chart meets all the criteria except the last where the appears flat. As time has gone by I have discounted the value of indicators since HFT and dark pools diminish the accuracy of this indicator. For the signal to be nullified price needs to break out of the and if it can price has more room to run higher.