Long entry level for this cupping pattern happens to be at the 50% retracement of the trend up.
Targets in Green for the C&H. Long when EL is met which is a bit above the high on the left side of the cup in order clear resistance.
More resistance overhead.
There is also as Shark pattern and targets are in white. Targets 1 and 2 have been met for the Shark.
The basic trading premise with the CMF indicator is if the indicator is above 0 this is a bullish sign, while a reading below 0 represents a bearish signal. Reading above +. 25 or below -. 25 indicate strong trends and positions can be added on minor corrections.
Chaikin Money Flow (CMF) developed by Marc Chaikin is a volume-weighted average of accumulation and distribution over a specified period. The standard CMF period is 21 days. The principle behind the Chaikin Money Flow is the nearer the closing price is to the high, the more accumulation has taken place.
This indicator is popular with volume traders.
No recommendation.
Try to stay sane even when insanity covers the ceiling, the floors and the walls.
Targets in Green for the C&H. Long when EL is met which is a bit above the high on the left side of the cup in order clear resistance.
More resistance overhead.
There is also as Shark pattern and targets are in white. Targets 1 and 2 have been met for the Shark.
The basic trading premise with the CMF indicator is if the indicator is above 0 this is a bullish sign, while a reading below 0 represents a bearish signal. Reading above +. 25 or below -. 25 indicate strong trends and positions can be added on minor corrections.
Chaikin Money Flow (CMF) developed by Marc Chaikin is a volume-weighted average of accumulation and distribution over a specified period. The standard CMF period is 21 days. The principle behind the Chaikin Money Flow is the nearer the closing price is to the high, the more accumulation has taken place.
This indicator is popular with volume traders.
No recommendation.
Try to stay sane even when insanity covers the ceiling, the floors and the walls.