155 1
GE is at a pivotal position where it can either break this channel or grind back lower bouncing off the resistance. Over the next two trading days it could tank below 13.48 to create the 14th down month in a row. I doubt it will manage to close below 13.48 in two days but if does I think it would be very bearish and we could see a further downtrend to the channel's support. Id much rather see it break this channel to the upside tomorrow or in the next few days but I guess well see. Im seeing a few other trading view posters posting linear charts which shows a break of the resistance line. I think my log chart is showing the proper trend lines as its extremely accurate. The linear chart may be showing a false buy and most traders use linear and its quite an obvious breakout so Id imagine many linear chartists are buying. This seems like a case where a majority of traders could be wrong. Anyway, Im neutral for now.
Trade active: Short position opened
Trade closed: stop reached
The upside runs into so much resistance, it's very tight. I'm watching to maybe catch a bounce of the $13.50 with a Stop Loss below. But buying off the Flag with so little room on the upside sure isn't my fancy. I have an old position so if she moves up and breaks out, so much the better.
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