Our Absolutely Correct Call on the Bearish Rising Wedge and Breakdown

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.

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).