Another Long Setup in Downtrend 042009
After seeing the earlier falling wedge fail, this long setup occurred based upon the tools I use. It has been holding up nicely (so far) as Ive been preparing the attached charts with comments as to what conditions went in to taking these longs. Hopefully we'll get some follow thru here. In looking back, I should have exited and re-entered, but sometimes logic doesnt prevail. Fortunate here. :-)
Heres an update. Trying to post/trade at same time is not working well :-( With the rally that I exited on (due to short setup), price did finally reach upper channel on high TF. Not an easy road getting there.