This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj
Saturday, 30 May 2015
there has been a lot of "struggling"price action to try and overcome the February high. On Tuesday the market broke the bullish rising 2x1 angle when time had squared price by 50% (305 points/153 days). Since then we have had 3 inside days so the direction of the break above or below Tuesday's candle will be significant and a sustained move below the 2x1 should lead to further weakness.I like that the recent top was 3 months from the high. A break above would be bullish,needless to say.
On the weekly chart the previous week was a spinning top with a a bearish black candle with LL this week
Kimble has an interesting chart.....there's that number 7 again