I'm long irrespective of this.
This looks like a "important level" and with a hike coming I think it is "technically bearish". However I don't really believe in TA anymore so I'm going to ignore it.
This idea will serve as a way to play it back and see if maybe I should have paid attention.
Looks spooky. I'm long, but this is having me second-guess that position. Maybe wait for the resistance to break about ~1380, but that's a good 15% from here. Marking this chart as a short because that's what I think it shows. Primary trend is real bearish!
I like how point and figure charts compress price action without respect to time. Instead, it shows you the...