ANDI Technical for 8/24/18: We gap up on resistan
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Posted On: 08/24/2018 7:02:09 AM
ANDI Technical for 8/24/18:
We gap up on resistance as it is getting thinner going up.
Pivot Point 2nd Level Resistance 0.0035
Pivot Point 1st Resistance Point 0.0034
Today I will share one of my custom charts that I create to try and predict cup and handle formations. The data of the SMA's get manipulated and are not accurate:
With my creation the 34 day manipulated SMA touched the manipulated 20 SMA. This was the bottom of the cup formation.
When the manipulated 50 SMA crossed the 34 and 20 the triple cross occurred and price action followed to create the right side of the cup formation.
If price action continues the true cup formation will be completed. Although we might not get the handle formation if bomb shell news hits.
If the bears attack today it could be the start of the handle. Today will be interesting day to say the least.
We gap up on resistance as it is getting thinner going up.
Pivot Point 2nd Level Resistance 0.0035
Pivot Point 1st Resistance Point 0.0034
Today I will share one of my custom charts that I create to try and predict cup and handle formations. The data of the SMA's get manipulated and are not accurate:
With my creation the 34 day manipulated SMA touched the manipulated 20 SMA. This was the bottom of the cup formation.
When the manipulated 50 SMA crossed the 34 and 20 the triple cross occurred and price action followed to create the right side of the cup formation.
If price action continues the true cup formation will be completed. Although we might not get the handle formation if bomb shell news hits.
If the bears attack today it could be the start of the handle. Today will be interesting day to say the least.
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