Preparing to drop again?

17 Jan 2017

We've had the predicted move down and now it looks like we it is preparing to drop again.
Watch this closely to see how the correction develops - I think it will be a short lived correction
As I said earlier this might be the start of wave C which could be a huge move down.

This is not investment advice - just my view of the charts

Hope this helps
Steve

17 Jan 2017

Nota

To trade this wait for the break out and correction in the 15 min chart to confirm it's not going to retrace the break out.

18 Jan 2017

Nota

Nothing has changed here. This still looks like it is ready to breakout short so we'll just wait for the correction to complete.

19 Jan 2017

Nota

This is a great lesson in the importance of waiting for the breakout before opening a position. Anyone who followed what I said will not be in this trade. Short positions opened before the breakout will have lost money.