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 looks like a perfect bull wave off support. When these happen the 50 DMA holds as support:
http://scharts.co/VAYrdt
I suspect we fail at this high like in 2012 (same chart). That is the bearish scenario.
Because the 1905 low we caught continues to look perfectly bullish, I am staying with it until it breaks down. I suspect it is a well painted bull trap, but it needs to break for me to know anything.
That is the explanation on the prior charts. The indicators I sent are still on sell (hourly barely). We should know soon.
This chart paints the picture for me:
ReplyDeleteIt looks like a perfect bull wave off support. When these happen the 50 DMA holds as support:
http://scharts.co/VAYrdt
I suspect we fail at this high like in 2012 (same chart). That is the bearish scenario.
Because the 1905 low we caught continues to look perfectly bullish, I am staying with it until it breaks down. I suspect it is a well painted bull trap, but it needs to break for me to know anything.
That is the explanation on the prior charts. The indicators I sent are still on sell (hourly barely). We should know soon.