Possible Falling Wedge


  • 0
  • Ninja
  • 15-Apr-2009 at 1:05 AM
  • Rep: 100
  • Posts: 218
It appears we may be working on a falling wedge (bullish) on my high TF (435tick). We may have a bit of further down to do, but we appear to be basing here currently. My first target area is in the area of pt 4 of the wedge (prior peak). Perhaps by morning we'll have this resolved, one way or the other. For the night owls, this might be worth monitoring.


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  • 0
  • Ninja
  • 15-Apr-2009 at 8:58 AM
  • Rep: 100
  • Posts: 218
Well, we got a nice run up, but a bit shy of target area. We have retraced back down into the .618/.786 area, perhaps from here we can see a MM to take us up to the target area. Time will tell. :-)

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  • 0
  • Ninja
  • 15-Apr-2009 at 9:28 AM
  • Rep: 100
  • Posts: 218
A further update. Our retr into .786 area continued down, fully retesting the pt 5 of the falling wedge. Within this move down, on a lower TF, we see a smaller falling wedge.
Lets see if this will start us back up toward the our 844 area.


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  • 0
  • Ninja
  • 15-Apr-2009 at 9:57 AM
  • Rep: 100
  • Posts: 218
Updating our small falling wedge shown previously.

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