DG appears to be recovering from a deep pull back.
The green upside down triangles are pocket pivots and can make a decent stop. This indicator is on TradeView.
A pocket pivot is a price/volume pattern. Price forms a pocket pivot, when:
The price goes up compared to yesterdays close.
The volume today is higher than the maximum down volume of the past 10 days.
V bottom targets are calculated by depth like a cup and handle. This pattern's depth is 48.25. I multiply the depth by .38, .62 and .79 to get targets 1, or I use the corresponding fib levels. The results arre added to long entry level which is often placed a tad over the prior high. The prior high is 225.25, so I placed long entry level at 225.35. I am sure some folks do this differently (o:
No recommendation.
The green upside down triangles are pocket pivots and can make a decent stop. This indicator is on TradeView.
A pocket pivot is a price/volume pattern. Price forms a pocket pivot, when:
The price goes up compared to yesterdays close.
The volume today is higher than the maximum down volume of the past 10 days.
V bottom targets are calculated by depth like a cup and handle. This pattern's depth is 48.25. I multiply the depth by .38, .62 and .79 to get targets 1, or I use the corresponding fib levels. The results arre added to long entry level which is often placed a tad over the prior high. The prior high is 225.25, so I placed long entry level at 225.35. I am sure some folks do this differently (o:
No recommendation.