4 replies to this topic

[selecto]

We don't have really "good" volume across the formation of this wedge, but the breakout (if thats what it is)
volume is just fine. Note 3 distribution days in a row.

[thespookyone]

Selecto- One of my favotite ways to trade a rising wedge like that is to short the backtest of the bottom of the wedge. Given market action, I don't know how we'll get back there, but it provides an incredibly small risk entry-for what usually turns out to be a big hit. Spooky

[selecto]

Yes, as with the h&s neckline, or most other support/resistance lines, the first trade is the break through risistance; the better one is at a failed retest - if - as you correctly observe - you get back there.

[selecto]

That should read: ..."break through support."

[thespookyone]

Yes, as with the h&s neckline, or most other support/resistance lines, the first trade is the break through risistance; the better one is at a failed retest - if - as you correctly observe - you get back there.

We'll get there buddy-keep your six gun handy