Zeev's Turnips Patch-No Politics (ZEEV)

[LG]

hk2: More than one of these intra day pullbacks has tagged an adjusted retrace projection. However in order for the rising wedge patterns (NYA, SPX) to resolve to the norm, the price action needs to drop below the support lines. Like wise, the price action needs to drop below the support line for the COMPX's rising channel. Some traders wait for the break of the support lines to initiate short positions, a more conservative approach, but with some formation you give up a lot of price action.

Trying to discern the top risk being early. Waiting for the support line to be broken leaves the chips from the resistance line to the support line on the table. There is always a price to pay for both strategies. One is more risk; the other is chips left on the table for insurance.

I hope that helps...

Regards,
LG