Upper parallel is still providing resistance as of this morning…if we start start taking out the floor of the uptrending slope, then I see nothing but air until we get to the confluence of support at the up and down trending slopes…
Again, the bearish context we flagged last week with the lowered ceilings was the key to getting ahead of this move and positioning accordingly…
That is why slope analysis is so powerful – it teaches you to see charts in a way that 95% of people do not and that is ultimately how you can continue to consistently take money from the house…
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