Lots of short signals here. The first one is that wre now have yet another 1 day candle closing below the 200 MA. The second big one is on the 4 hour chart where a day or 2 ago the 100 SMA did a death cross under the 200 SMA and is currently continue to trend donward from it, leaving us with the 100SMA under the 200SMA and the 50SMA under both of those..all strong sell signals. We also just closed the last 4 hour candle back below the tline which is usually a good sell signal....and finally we have now an ascending wedge which tends to break bearishly downward especially when compounded with all these other sell signals. I think we could very well break downward form the wedge and diop as low as the 00% fib retrace extension level at around 76...to ensure I buy back in before any bounce abck up though I'm not gonna try to catch the bottom and instead have set 7749 as my arbitrary limit buy back in number. Hopefully this time it actually hits that...my previous limit buy order was $100 too low of the last recent dip and I missed out on the profit taking of the recent temporary bull flag.
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very likely we could fall more steeply than that but if so I will likely just ladder in more usd a key support levels as I don't want to risk missing any temporary turn arounds like I did the last time.
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As I anticipated. the previous 4 hour candle has broken down from the ascending wedge and closed below it as well...we are now seeing the current 4 hour candle continuing to the downside...I believe this candle to will close below it as a confirmation candle especially because the tline is below it as well and would act as strong resistance if it tried to get back inside the wedge.