Every uptrend means that we gonna break a channel and create a new one with steeper angle. We were breaking every resistance with low volume and whole move seems to be fake. This could potencially mean we are NOT in uptrend, just in a correction in a downtrend. Both uptrend or downtrend mean that we could expect move down.
Follow me on twitter @mage_market
Follow me on twitter @mage_market
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I'm still out of position, everyone of us can be mistaken. BUT i DO really think this is NOT a real bullish movement. Everyone see ascending triangle or falling wedge - YES both are there. MY setup for this will be waiting to break a channel then wait to retest back and i will enter a short position with nice RRR as follows:
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