The NWS double top is looking even more bearish than yesterday.
Updated
This chart looks even more bearish than it did a few days ago. Not only does it have a double top pattern and a bearish divergence, but it now has a candle wick that has dropped below the bottom trend line. Certainly not all, but many times, this can be the 'nail in the coffin' that tips off traders that price is about to break out of the wedge pattern to the downside.
At this point, I'm extremely bearish, but will be running a tight stop 1.5% above the upper trend line.
Good luck, and always use a stop loss!
At this point, I'm extremely bearish, but will be running a tight stop 1.5% above the upper trend line.
Good luck, and always use a stop loss!
Trade closed: stop reached
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