Ascending Wedge Breakdown/Descending Triangle – SHORT
Updated
Bearish:
Fisher Transform Showing Sell Signal (4 hour)
Red diamond top reversal
Forming Large Descending Triangle
20/50/100 MA cross below 200MA (4 hour)
Breakdown of large green bearish ascending broadening wedge with retest of support flipped resistance now complete.
Daily bearish aroon cross
Daily pullback to BB 20MA mid line
Bullish:
Daily klinger bullish cross
Fisher Transform oversold (daily)
Daily parabolic SAR flip to bullish
My bias - SHORT
Entry 10,080.
STOP LOSS: 10,290
Target 1 - 6500-6900.
Ultimate target = BETWEEN $5000-$5800
Idea is invalidated if stop loss hit.
Fisher Transform Showing Sell Signal (4 hour)
Red diamond top reversal
Forming Large Descending Triangle
20/50/100 MA cross below 200MA (4 hour)
Breakdown of large green bearish ascending broadening wedge with retest of support flipped resistance now complete.
Daily bearish aroon cross
Daily pullback to BB 20MA mid line
Bullish:
Daily klinger bullish cross
Fisher Transform oversold (daily)
Daily parabolic SAR flip to bullish
My bias - SHORT
Entry 10,080.
STOP LOSS: 10,290
Target 1 - 6500-6900.
Ultimate target = BETWEEN $5000-$5800
Idea is invalidated if stop loss hit.
Trade closed: stop reached
Stop hit. Bullish fractal has reformed on a larger scale so switched back to long with initial target of 11,100.
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