If we break this wedge on the 4h timeframe shorts will be triggered. This analysis is symbiotic with our higher timeframe outlook and may provide a longer term opportunity that will be conducive for several positions and thus a higher profitability trade.
Fundamentally this isn't the best pair to trade if equities continue to suffer but we'll listen to the market and adapt accordingly.
As always, wait for a break and close before entering.
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Approaching the trendline. MUST wait for a break and close before entering.