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Today we poll the room to see what alert people would issue for the chart currently in front of us. Clay alerted “Bear pennant on the 2 min. Get your trendline in place. See if it breaks through it.” We clarify that the important trendline is the bottom one instead of the top. It will indicate if there is continuation or not. There are a few ways to enter this trade. On confirmation or as speculation. We see it does eventually break the trendline and begins to head lower. While the chart consolidates, it is understandable to be nervous. You can mitigate some of your winnings if you so choose. The chart then continues to crumble lower and that’s why we trail our stop losses because you never know when true continuation will occur.