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

Thursday 14 August 2014

TSCO - always dangerous to pick a bottom but I would watch 2.30-2.40 area for a weekly candle reversal pattern

15/08 edit    I just noticed that half the high is 247,so we need to see price regain this line and start an uptrend on the daily swing chart
High was 494 in Nov2011...........7 "lean years " for Tesco
I dont know if this will work but if you subtract 7 from the square root of the high and re-square it you get 231

1 comment:

  1. My two sense. We reached the 1949 fib resistance that was called for at the 1905 low.

    Indicators are mixed, but I have a break up through the zero line on one indicator and that is a bullish signal.

    That could have been the cycle low we caught at 1905.

    As long as 1928 holds the long off the 1905 low is going to new highs. Target 2060 by October.

    I am only interested in the bearish play into a Sept. low now if 1928 breaks. If that happens, the scenario is pretty easy. Until it does, bulls on parade.