Why choose 11836 as your bounce point? Does that number have a support level I'm unaware of? Thanks. Interesting idea. Cause it flagged a bunch and made a move up and couldn't hold and came back down. Could be the making of a double top and maybe even greater reversal. What makes you think it won't go below 11000 area? Thanks.
tst
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@ClimbN, 11836 is not an exact point just a guide at this point. Old resistance equals future support and it line's up with a 138% extension of waves A and B which is a common place for a flat pattern to complete.
With a classic double top the second peak should be equal or lower then the first. Breaking that first top signals bullish price. This is just a concept at present as price may continue to rise....
ClimbN
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@tst, I feel like this is manipulation to get the charts to show what they want to pump it up. The depth charts look ridiculous. The buys are just asking to be eaten up as soon as a large sell comes out. Volume is not too high either. Thoughts. Thanks for the info.
tst
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@ClimbN, Were just a small cog in a very big wheel , If the market is being manipulated we will never know. The price quotes X amount then that is the amount and the only pure peace of data weather it was manipulated to that level or not. 2 plus 2 can equal fish but the price is the price. You can be right in what youre saying with market depth and the logical thing may be for price to correct deeper but doesn't mean that it will...... also does not it mean that it will bounce we will just have too plan and see.