Horrifying bearish pennant!!
We are coming to the end of terrifyingly horrific 3 day bearish pennant! Low basing it badly! I feel a bad drop is coming shortly! Save yourselves! I'm just sitting in cash for this, but it does look like a good short if that's your thing!
Note
It broke down out of my 3 day pennant already! Have to keep an eye on this one! Major support is really not all that far down at this point, so I will just keep playing it safe for now!
Trade closed: stop reached
If I were in a short, I'd get out, but still playing it safe for now.Note
Yup. Being in cash was definitely the right move, at least if you're like me, and not into these sudden, fast moves up and down. The 2 day ichimoku red was like a limp noodle all along, and price pretty much had to come back down, for now at least.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.