Lines

Here is a chart of the emini SP 500 futures in the 5 minute timeframe for the last 9-10 days. The market must rise above the support line to continue. We see two possibilities at the moment; a bullish falling wedge or a downtrending channel.

 

[Bronco07]

Uptrend,
With your expertise, do you consider this a Bullish falling wedge or a downward trend?........ thoughts ???? Cheers

 

[Uptrend]

Uptrend,
With your expertise, do you consider this a Bullish falling wedge or a downward trend?........ thoughts ???? Cheers

Sometimes it is hard to tell at first. After 9 AM on Thursday, May 3, it turned into a downtrend channel. But you can't trade that (after the IFT deadline).