I posted a chart some weeks ago about a break out above the triangle and at the time looked like a consolidation breakout, but needed to break above $1.485 to be valid..
What we had in fact was the opposite, a failure to break higher has resulted in a sharp reversal...
Looking back at that consolidation zone a bearish divergence had formed on the momentum indicator, which has proven to be a valid signal indeed..
Currently we have the sp sitting on %23.60 Fib.. But with the sp ever so close to that gap from 21st of May I'm expecting that gap to be shut off.. That's my first target but not a valid confirmation of taking a position yet...
Add to My Watchlist
What is My Watchlist?