Ascending Wedge Formation - Could this mark a macro top?

Mar 19, 2021

By no means something I am betting on just yet - just a possible scenario I saw whilst planning a recent lesson. Would be interesting if this broke down due to demand exhaustion since this bull run has been quite rapid. Not trying to insinuate this will be the top of this bull market but could serve as a local macro top with maybe a more macro (25-50%) pullback before continuation or reversal.

Mar 23, 2021

Note

- Ascending wedge broke-out to the downside
- Secondary descending triangle forming
- Possible continuation towards more macro correction levels
- Invalidation = Double 4H closure above 58400

Mar 24, 2021

Note

Bearish control zone looks to be strong with a volatile rejection. Great lil scalp.

Mar 25, 2021

Trade closed: target reached

All targets met with a beautiful test of the 100% extension.