It seems history is repeating it self.
I consider the retest a good opportunity to short.
Technical analysis: break out of trentline and retest
Fundamental analysis: Yellen's hawkish tone for rate hike, Brexit uncertainty
GJ is currently forming a nearly identical structure.
It's currently trading inside of a wedge and just made a new high before crashing down again. We could see it re-test the previous low and even break towards a lower one.
Trade with care as it can break towards the upside again.
Entry = 157.90
SL = 158.35
This was an interesting chart that I did. I have been busy and rather lazy since I did my last TA on that bull rectangle (apparently not a "flag" but w/e). At first when I fired up the chart I thought I would pull up some standard indicators that I use. When I opened the chart on 4H with BB on I was looking at how ...