I think if we can break yesterdays high we have a strong chance of testing the ATH. If we can break that I expect to push up to 61,500 or 62,500 before. If not, I expect to retest 46,800.
Thoughts on what I'm seeing here?
New to TA and investing and would love to hear some feedback. Please comment!
Yea that looks pretty much like a wyckoff accumulation, good post.
Zackfx10
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Nice idea. Thank you for sharing this post.
Losing-Up
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Don't agree with the Spring label... especially with no spike in volume. But otherwise, more or less!
Losing-Up
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@losingup63067, Furthermore... scroll left a bit, and you can draw more of a distribution type pattern (or re-accumulation). That is probably better fitting, seeing as we're not really at the bottom of a market.
Losing-Up
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@losingup63067, 9th Feb Buying climax. 21st feb Upthrust. Your 'spring' is basically the bottom of the distribution box. And now we're doing an upthrust after distribution; if this fails... back to the bottom of the box; to either try again, or show signs of weakness, and possible mark down.
jryan20
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Really great first post!! Look at how it respected the you resistance line. Crunch time at these levels. Big move coming in the next day or two. Bullish scenario is most likely but time will tell.