Utilizing the weekly in conjunction with the daily, we can see how one could have been involved with CAR long before last week's meme status. Here we use the higher timeframe for direction, with the lower timeframe for the "setup". Nothing new here, just applied in the use of Moxie as an indicator.
I should point out that at the time of this setup, on the weekly the averages were essentially flat and running together. This is typical of low volatility. This was suggesting that expansion (in one direction or the other was coming). In my view, this added greatly to the setup, and Moxie simply gave us a clue as to the ultimate breakout direction.
This was suggesting that expansion (in one direction or the other was coming). In my view, this added greatly to the setup, and Moxie simply gave us
a clue as to the ultimate breakout direction.