"That bloodbath am I right? Nice to see you predicting correctly again, better start following you for more advice."
Bloodbath lol you guys are seriously a joke! Here is a chart to illustrate the supposed bloodbath.
You will note the pennant formation, the run started on 12/02, so this has now been running for 5 months.
This formation must set up with a series of lower highs and higher lows, you will note them on the two trend lines.
so a BLOODBATH you utter, FACT is it is trading within the range of the pennant and there is no bloodbath, nor was there going to be one today.
A bloodbath may occur with a break of the lower trend line, HOWEVER it hasnt even come close today.
What has happened today is what i wrote last week, that the trading action has found resistance and fallen back - note leaving a gap which will fill at 2.7!!
As far as predictions are concerned that is not a bloodbath but uneducated scare mongering!
This will offer true direction with a break of the said trendlines!
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