Now, it can fail, which would be really bearish...
Rgmov says down:
If the wedge's valid, we shouldn't see v be larger than iii, this would give us: 1.33251 top nax,
One thing I don't like about the wedge: I don't see any other contracting terminal triangle anywhere on this chart...I do see diametric 7 wave triangles, everywhere.
This contract and then expand before topping, faking out the 'rising wedge' traders.
I'll wait for the time and price targets to confirm the short. Worst case scenario is illustrated by the dashed arrows which point to the profile balance point targets.