I like how this thing is shaping up with a bottoming pattern (dare I call it inverse h/s?!) No, it's not perfect, but if you need perfection to trade, then look elsewhere.
My dowsing/intuitive method gives me 2 indications of a longer term trend reversal (up), so wth, let's try it.
I like the test today of the prior highs/trend line from above... Needs to get above the downtrend line, but entry today and stop at a close below the 50 day.
I also expect a big pop in indexes, so that could help her get going through that symmetry resistance at yesterday's hod.
My dowsing/intuitive method gives me 2 indications of a longer term trend reversal (up), so wth, let's try it.
I like the test today of the prior highs/trend line from above... Needs to get above the downtrend line, but entry today and stop at a close below the 50 day.
I also expect a big pop in indexes, so that could help her get going through that symmetry resistance at yesterday's hod.
Comment:
I have more info on indexes, and the pop today should be faded in the short term. This one is on a tight leash.
Comment:
I still expect this to move up, but it's gonna be choppy with a potential pullback today. This is more of a longer term situation.