FCH will be added directly as an Active Trade (and short setup) as it is currently offering an objective short entry on a break below this rising wedge pattern. FCH is a REIT that must not have received my “Rush For The Exits” memo as it’s one of the few REITs that hasn’t taken it on the chin…yet, since Bernanke’s speech a couple of weeks ago.
An added kicker for this trade is the fact that this most recent bearish rising wedge has run smack into a multi-year downtrend line, thereby giving this short trade an attractive R/R and a well-defined stop level on any daily close above that level (yellow line shown on both the daily & 2-day period charts below).
