Don't Forget RCII

This was another trade idea we've been watching for a good entry.

 Here's the daily with a break away gap and a bear flag. I was 'hoping" to see a false breakout or shakeout above the top trend line of the flag, it could still happen, but an entry on the break of the flag, if it remains convincing, may be the trade. If I took that trade, my stop would be wide enough to accommodate a shake out move, at least initially as I always favor wider initial stops.

 Here's the break on a 60 min chart

 And on a 5 min chart.

Wall Street "Conditions" people with propaganda to take advantage of them. Wall Street produces no tangible good so to make money, they have to take it from someone else, a zero sum game. Some examples are "Dollar Cost Averaging" , "Hold for the long term", etc. These are phrases that have been brainwashed in to the investing community for 5 decades or more. The most recent one (I' wouldn't be surprised if Goldman Sachs themselves put this one out), "Buy the Dip" and we are seeing that, we will see that, be aware, when the time comes, they will use that against investors/traders.

 The 30 min chart looks like this break is serious, but that doesn't mean RCII can't still flop around like a snake with its head cut off.

There's a 2 min positive divergence, so I'd expect some movement above and below the bear flag's lower trendline. This looks like a good opportunity, just be aware of the volatility and the brainwashing that causes the volatility.