SUMMARY
Ok, so price has returned INSIDE the triangle space. The below chart shows that after a brief foray piercing of the lower blue line of the wedge pattern, price made a V turn and came back inside! Does this mean the bottom is in? Well, we need to see the evidence of a true turn.
The first evidence would be the very first set of impulse waves as drawn out in below chart. Thus far, waves 1 and 2 are complete and 3 is in progress. Once 4 and 5 are done; a requisite retracement would be next step. For me, the onset of the second impulse set (subwaves of a higher degree of trend wave 3) would signal the next higher high. That would be the next key signal to a trend reversal. Let's see how price action wiggles across time for the rest of day.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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