This chart is rather telling. We appear to be sett
Post# of 72446
(Total Views: 992)
Posted On: 08/29/2017 6:30:31 PM
This chart is rather telling. We appear to be setting up with a desirable "W" pattern, also know as an inverse head and shoulders. "W" is an easier thing to spot.
http://bigcharts.marketwatch.com/quickchart/q...amp;time=7
Remember, there are always lots of ways to interpret a chart. This is what I see:
• The first W on this chart has its center at the beginning of May. See how the bottom left of the W is in the last part of April, and the right bottom of the W is in May, on the 8th trading day -- followed by those big white candles?
• Then there's a sloppy W in June. The left bottom is the 4th trading day. Then it goes up a bit, seems to fail, and the low right side of the W comes right before another huge white candle.
• Then there's the current situation. Will this be another W? If so, the left bottom is at the 10th trading day of this month -- the red candle. It goes up for a few days, stalls, and now... what do we have? Is this the right side of a W, and another big white candle is due? It's certainly possible that it will be like the 2nd W, sloppy with the right side lower than the left side, which would mean that there will be another attempt to take it down before the next big white candle.
Doesn't bother me if they do that. I'm waiting with cash to buy more if they are stupid enough to give me some at lower prices.
http://bigcharts.marketwatch.com/quickchart/q...amp;time=7
Remember, there are always lots of ways to interpret a chart. This is what I see:
• The first W on this chart has its center at the beginning of May. See how the bottom left of the W is in the last part of April, and the right bottom of the W is in May, on the 8th trading day -- followed by those big white candles?
• Then there's a sloppy W in June. The left bottom is the 4th trading day. Then it goes up a bit, seems to fail, and the low right side of the W comes right before another huge white candle.
• Then there's the current situation. Will this be another W? If so, the left bottom is at the 10th trading day of this month -- the red candle. It goes up for a few days, stalls, and now... what do we have? Is this the right side of a W, and another big white candle is due? It's certainly possible that it will be like the 2nd W, sloppy with the right side lower than the left side, which would mean that there will be another attempt to take it down before the next big white candle.
Doesn't bother me if they do that. I'm waiting with cash to buy more if they are stupid enough to give me some at lower prices.
(1)
(0)