Our Absolutely Correct Call on the Bearish Rising Wedge and Breakdown

Sep 9, 2016: 11:34 AM CST

In the September 8th Idealized Trades Report, I detailed the likely bearish pathway ahead with a discussion on a “Bearish Rising Wedge” pattern, the trigger, the target, and how to trade it – all for our members.

I wanted to highlight the analysis and outcome both from a teaching moment (pattern and outcome) and to show a sample of what type of analysis and actionable trading strategies you get as an Afraid to Trade Member.

Here’s the @ES Intraday Planning Page from September 7th’s member report:

The main idea is that price was compressing into a Bearish Rising Wedge pattern on negative divergences.

I’ll let the analysis speak for itself – the trigger was the breakdown under 2,172 and the target was 2,145.

I also publicly called out this pattern in yesterday’s Fibonacci Grid update (which I post each morning for free).

After a day of stagnation after price triggered a breakdown short entry yesterday, we’re seeing the fulfillment of the pattern – a collapse lower toward the target – this morning.

In fact, here’s what happened next – right on schedule and in textbook fashion:

Note the collapse we forecast from the pattern and the successful objective completed – and exceeded!

This is the type of education, analysis, and next-day planning you get as a member.

In honor of this spot-on accurate call, I’m eager to offer a free two-week trial to you (link here) to see if the membership will be of benefit to you as a short-term trader.

We also include strong/weak stock scans each day and do sector analysis as we plan the next trading day and week ahead.

It’s helpful for swing traders getting a sense of the broader picture and of course day/short-term traders in index futures, leading stocks, or ETFs.

Come check us out!  Become a member today or take me up on the two-week full access member trial.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT

Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

3 Comments

3 Responses to “Our Absolutely Correct Call on the Bearish Rising Wedge and Breakdown”

  1. Jay Says:

    Thanks for sharing this detailed analysis, Corey. I appreciate the opportunity to learn what you’re focusing on right here and right now.

    Thanks again and have a great weekend!
    Jay

  2. The Bounce after the Crash Fib Grid Planning Sept 12 | Afraid to Trade.com Blog Says:

    […] breakout occurred Friday exactly as expected from a Bearish Rising Wedge Pattern (reference […]

  3. Ronald Says:

    It will be interesting to see if this continues, but we got to be very careful with how we go about everything, as only then we will be able to gain profits and rewards. I always love to trade fearlessly and that’s through OctaFX broker with their epic facilities especially with rebate scheme where I get 50% back on all trades even the losing one, so that’s why I am able to perform nicely and it’s what brings rewards to me in big way.