rio time to go short ? rembrandt ?, page-64

re: rio puts ... rio2d update, astoria Well there u go Astoria welcome to the range trading game .

As per my above posts we saw declines of up to 9 % ?

Yes RIO must go up . One to fill in the 2 gaps and 2ndly to create an ABC pattern or double top .
ie; and we're only guessing here , A will be the high B will be the low [maybe today ] C will be the next lower top .

I was so busy today I didn't get set but my trading rules say I should only trade with the trend . C will be level to get set at .
Today found support at the monthly bottom channel and well done for picking it , tomorrow may confirm either more down or up to fill the gaps .
The higher close on the bar chart today ,than the open, indicates up .

Good luck and be prepared to short it again soon if we go up for a few days .

Or some will argue we haven't broken the monthly [down]so the trend remains up anyway and your right in trying to buy the bottom .

U decide .

cheers ge