If we really broke the long term downtrend yesterday (and I believe we did), we will see another rally soon. However it seems that, similarly to the situation in Oct/Nov 2013, we will retract to the medium-term uptrend line first. From there, if the line holds, it's to the moon.
So to recap: - Short-term: Down - Medium/long-term: To the moon! :)
Comments
ItisCalvin
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Fun colors on your chart.
So... any explanation on what MACD, Aroon and Willy are up to? If you don't explain don't include them is the general rule of thumb. Often just clutters the chart with unnecessary info and distracts from the main point (RSI).
I swear this chart is the same one I saw on Reddit the other day with the trend line. Why does everyone keep drawing it so that it is not valid? 2 points = weak trend line. 3 points = strong, valid trend line. I think I will point you to this stockcharts.com/school/doku.php?id=chart_school:chart_analysis:trend_lines since it has a ton of great information on trend lines. Good to brush up and learn something you didn't know or think about before.
So... any explanation on what MACD, Aroon and Willy are up to? If you don't explain don't include them is the general rule of thumb. Often just clutters the chart with unnecessary info and distracts from the main point (RSI).
I swear this chart is the same one I saw on Reddit the other day with the trend line. Why does everyone keep drawing it so that it is not valid? 2 points = weak trend line. 3 points = strong, valid trend line. I think I will point you to this stockcharts.com/school/doku.php?id=chart_school:chart_analysis:trend_lines since it has a ton of great information on trend lines. Good to brush up and learn something you didn't know or think about before.