Bchap

Bchap Jul 6, 2017

A small neutral triangle has formed on the upper trendline of a much larger wedge that can be seen here on the D1 Chart: If the smaller triangle breaks to the upside, the entire wedge might break with a large move in that direction. If the Upper trendline holds, look short to the bottom of the shape. Lastly stay mindful of Non-Farm Payroll data that will be...

Bchap Jul 6, 2017

A small neutral triangle has formed directly on the upper trendline of a much larger wedge on the daily chart. You can see the larger wedge here: If the smaller M15 triangle breaks to the upside the entire wedge could break with a huge move up. If the Upper trend line holds look short to the bottom of the shape

Bchap Jul 4, 2017

What could be described as a large wedge or bullish flag has set itself up on the daily charts. Price appears to be respecting the upper trendline and heading back down toward the bottom of the shape. If price remains bearish, look short to the bottom of the shape, if buyers come into the market look for a breakout trade.