Waiting for a correction down in this market soon. I have exited most of my long positions, but do still keep one alive to try time the breakout.
A few points in favor of this idea;
A few points in favor of this idea;
- There are two wedges forming inside the daily channel
- Upper channel line has already been touched once by last bullish wave.
- Bollinger bands are getting very narrow, implying a breakout (most likely down) soon.
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Possibly some more upside before a correction:
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Possible long term development. Several wedges developing: