This chart is a bit of a mess. But, you get the idea I hope. Previous resistance levels were broken and are now acting as support levels. Support levels are stacked up on top of each other, all the way down to 205, then 160 below that. Quick blasts to 305 and 207 blew out any old short stops to those levels from the last drop, pretty much leaving resistance only...
Just noticed some similarities, maybe this could happen
This is my first published chart, so bear with me... (har har) Looking back at the past year, we can see many wedges lasting a few days or weeks. It seems to me like a great trading strategy would have been to simply recognize the wedges when they form, wait for them to play out and open positions as soon as the wedge is broken (or just set trigger orders above...