We are still in an uptrend after that small breakout from the diamond top.
The 4hr chart clearly show's we're still in the process of completing the ascending/rising wedge, a bearish chart pattern that breaks DOWN 68% of the time.
We should get another move up for another test of the upper trendline, or 1:1 Gann Fan (highlighted in GREEN).
It makes sense to go back up to this area, otherwise it will leave a CME gap that WILL eventually get filled.
Going to wait for a break out above or below the upper/lower trend lines before making a move.
Hope you're all having a great weekend! If you agree, please give me a THUMBS UP and/or a comment :)
If you disagree -state your case below and let's put our brains together on this!
The 4hr chart clearly show's we're still in the process of completing the ascending/rising wedge, a bearish chart pattern that breaks DOWN 68% of the time.
We should get another move up for another test of the upper trendline, or 1:1 Gann Fan (highlighted in GREEN).
It makes sense to go back up to this area, otherwise it will leave a CME gap that WILL eventually get filled.
Going to wait for a break out above or below the upper/lower trend lines before making a move.
Hope you're all having a great weekend! If you agree, please give me a THUMBS UP and/or a comment :)
If you disagree -state your case below and let's put our brains together on this!
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