Tues morning Falling Wedge into Retr Area
Following the nice 3rd touch of falling channel just before opening this morning, we rallied sharply. As this rally sold off, price retraced back down within our .618/.786 retrace area, and formed a nice falling wedge doing it. The 3rd touch of the falling TL with low TF at extreme to help time, and sitting at the .786 level, we had a nice long setup for a shot at reaching our top of wedge target. The attached chart shows what I saw. Nice little move (with much more to come as it has turned out) :-)
Click image for original size
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