Potential Short Setup. 1. Rising wedge Awaiting 2. DESCENDING Triangle. Wait for the breakout from DESCENDING Triangle before taking SHORT position. PS: Ignore typo - I actually meant 'Descending Triangle' on the chart.
It took only 3 months in 2015 May till Aug for the index to crash 45% from its peak but is more than 2 years now and we are blessed indeed to see it pulling back nearly 57% of its previous shiny days. That means it has nearly 15% more to catch up to its previous high. Notice the nice Cup formed, expecting a right handle to be formed soon (pull back). The fall...
It appears to me that the Hagopian rule is about to play out and we are getting a chance to enter this trade with a very small stop. The Hagopian rule This rule is invoked once a confirmed pitchfork breaks without the price ever reaching the median line, what should follow is a bigger movement in the opposite direction.