This is a chart that I watch for discretionary trading...shows setups well. This setup is at cycle resistance in a confirmed downtrend in a persistent down cycle and a sell setup on the m3WR.
Also, there are multiple resistances at these levels.
From a technical perspective, a breakout of the trendline is a high risk of being false and may reverse to new lows. If that's the case, its another example of why its so hard to trade trendlines.
This is the system chart:
10 Thursday AM Reads
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My morning reads: • “If You Want to Bet on the End of the World…”: Puck
sits down with Mark Spitznagel on the art of cool bullishness — and what
tail-ri...
10 hours ago

