Here is what I am watching on the 30min chart. It looks like we may break out up, but this is a high risk trade as there are indications we are very over sold on the other charts. The bigger thing I am watching is the formation of a new log channel. If this new channel continues we will go extremely high and make Tulip Mania look like a drop in the bucket. Basically Tulip Mania on a global scale... but then again, Tulip Mania on a global scale could just work...
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Sorry, over bought, not over sold.
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We are out. Higher! I did have to adjust/expand the pennant. I was a bit early to the game, but not wrong.
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Be careful with this trade. As I said before, it is very high risk and RSI and MACD both say we are very over bought right now.
