A quick idea today before the CPI data spills onto our screens.
The past few days price action has been pretty bearish as each attempted rally is sold off.
Long wicks on the 4hr candles as sellers take control of this market.
Any rise in inflation above August's number will be too much...the last straw!
A squeeze pennant like pattern has developed, the downtrend line is solid and refuses to be broken so far...each rally is met with sellers.
False breaks can also occur, whipsawing bears and fooling both sides. One particular perma bear from the "woods" was bullish in his last idea...the irony of his bullish thinking was born out of too many on the wrong side.
It's plain and simple to anyone that this is a bear market and you SELL the rallies...otherwise you are catching knives and fail your followers.
Hold the line for a mother lode, a sincere capitulation approaches.
Appreciate a thumbs up...Good Trading & God Bless!
The past few days price action has been pretty bearish as each attempted rally is sold off.
Long wicks on the 4hr candles as sellers take control of this market.
Any rise in inflation above August's number will be too much...the last straw!
A squeeze pennant like pattern has developed, the downtrend line is solid and refuses to be broken so far...each rally is met with sellers.
False breaks can also occur, whipsawing bears and fooling both sides. One particular perma bear from the "woods" was bullish in his last idea...the irony of his bullish thinking was born out of too many on the wrong side.
It's plain and simple to anyone that this is a bear market and you SELL the rallies...otherwise you are catching knives and fail your followers.
Hold the line for a mother lode, a sincere capitulation approaches.
Appreciate a thumbs up...Good Trading & God Bless!