7.24.17 | HSI | Possible Reversal/Retracement

A Rising Wedge formed and peaked at a major support level. Price is at the neck of the wedge and will not have room for daily volatility in the next session or two. Price is also walking the outer Bollinger band which is indicating a retracement down to the target zone at the middle Bollinger band. Consensus: The Rising Wedge and Bollinger Band's are indicating a selloff; a Rising Wedge signaling a breakout and the Bollinger Bands setup for a retracement back to the center band. It is highly probable that the HSI will selloff for the next week or two.

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Failed Idea

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Trade Idea VOIDED on 7.31.17