This is a 15 minute chart where price actions are more visible. "Don's Top Ten Technicals": 1. The Ichimoku Cloud is FALLING relative to structure to the left. 2. Prices are trading BELOW the cloud. 3. Prices are trading WAY BELOW the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is moving SHARPLY LOWER. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud and this is HEADING SHARPLY DOWN. 6. The indicator on the top of the page is RSI / Stochastic , and this is FAILING.. 7. The top-side middle indicator is vortex and this is EXTREMELY NEGATIVE (red over green). 8. The Top (bar-type) indicator measures the "phase energy", and this is VERY WEAK. 9. The red fractal arrows (not pictured) are DOWN. 10. Look to the far lower right on the chart, around $13.02, by the large red arrow. You will notice a yellowish line on the bottom (jaws), with black dots above (teeth), and a blue line (jaw) above the black dots. Now, all three are WIDE OPENED, correct? This is where I ask you to use your imagination and envision these three items as the "jaws, lips, and teeth of a NOW AWAKE, FEEDING alligator, and the alligator will feed into the NEW DOWN-TREND.
Once you study your own indicators I encourage you to stick with them. Back-test, back-test, back-test. Reminds me of the old story......
I was once in New-York and a flagged down a cab driver and I asked him: "How do I get to Carnegie Hall?"
Without skipping a heartbeat he told me: "Practice man, practice!"
I hope this series has been entertaining and informative. May all of your trades go well. Don.
Once you study your own indicators I encourage you to stick with them. Back-test, back-test, back-test. Reminds me of the old story......
I was once in New-York and a flagged down a cab driver and I asked him: "How do I get to Carnegie Hall?"
Without skipping a heartbeat he told me: "Practice man, practice!"
I hope this series has been entertaining and informative. May all of your trades go well. Don.