In the backlink I was hoping for something more motive looking like this:
Instead we got this:
Long time readers know that I am never a fan of staying in something that does a corrective move to the level of the prior 4th. This one poked through the top rail and then fell back inside today. I set my stops for 2.59. A break down of the lower rail will probably retrace most of that rising wedge but I think not down to a lower low. Instead I'm thinking that this could be a good candidate for inclining double bottom as shown.
Still, I have no reason to ride it down at all and I want to raise cash for trading JNUG/JDST anyhow since as of now the count seems pretty clear there.
Monday, November 2, 2015
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