Market fails to deliver higher prices as it loses some power at the end arm of the amalgamation T structure (red).
The next peak – perhaps higher, perhaps lower, should coincide with the arm of the New T structure (gray) on 12 May.
Still holding onto support from the rising line from the recent low and above the Buy Signal line, but if we see some sustained selling here we will know that the red T structure is the more dominant one.
Be prepared for whatever comes next:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.