After a massive decline from 90+ we now find us in the 4th or 5th wave consolidation
I believe and so does the RBA that we have more downward movement yet to come
Regardless we have a nice Rising wedge/ Ending Diag forming
I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way
Or wait for it to break under the trendline (lower risk) as with ending diags/rising wedges ..expect a retrace to the origin for a good 90 point move
I believe and so does the RBA that we have more downward movement yet to come
Regardless we have a nice Rising wedge/ Ending Diag forming
I see 2 entrys if we retouch the top of the trend I will short with a tight SL as it will tell me we will break the other way
Or wait for it to break under the trendline (lower risk) as with ending diags/rising wedges ..expect a retrace to the origin for a good 90 point move