MTH has managed to get caught in a small rising wedge after a long fall from a larger rising wedge. Seems to have recovered and ready to move again.
I calculated the targets using the AB leg. This is the impulse wave and just seemed like a lot but it is 51.30 long! I will play it by ear and see how the market plays out. We have had a several up days in a row so I am thinking it may be haircut time soon (o: This one is not up a ton like some in the market, I see support at 85.45ish. Monthly and weekly candles are bullish. I will press long and hope this one does not get in to another rising wedge.
Large effective volume and a pocket pivot today. (Chartmill) I have noticed large players do not always buy at the best possible entry which is close to support. Entry level means a lot to me because I hate looking at red in my portfolio.(o:
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution.
A pocket pivot is a price/volume pattern. We say todays 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.
To screen for this:
LEV: Above Rising 20 SMA: The red Large Effective Volume line should be above a rising 20 day average. This filters for a rising large player EV line.
Acc/Dist: 5DER > 3%: The daily average ratio in the last 5 days should be above 3%. This means that on average, during the last 5 days, the percentage of the volume accumulated by large players is at least 3%.
Pocket Pivot: At least 1 PP in last 5 days: there should be at least one pocket pivot in the last 5 days. This may be a bit confusing, because this will require at least one pocket pivot in the previous days, not counting the one today. Although, after the end of the day, the pocket pivot from today will count.
Signal: Pocket Pivot Today: there should be a pocket pivot on the last/current trading day.
Not a recommendation
I calculated the targets using the AB leg. This is the impulse wave and just seemed like a lot but it is 51.30 long! I will play it by ear and see how the market plays out. We have had a several up days in a row so I am thinking it may be haircut time soon (o: This one is not up a ton like some in the market, I see support at 85.45ish. Monthly and weekly candles are bullish. I will press long and hope this one does not get in to another rising wedge.
Large effective volume and a pocket pivot today. (Chartmill) I have noticed large players do not always buy at the best possible entry which is close to support. Entry level means a lot to me because I hate looking at red in my portfolio.(o:
Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution.
A pocket pivot is a price/volume pattern. We say todays 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.
To screen for this:
LEV: Above Rising 20 SMA: The red Large Effective Volume line should be above a rising 20 day average. This filters for a rising large player EV line.
Acc/Dist: 5DER > 3%: The daily average ratio in the last 5 days should be above 3%. This means that on average, during the last 5 days, the percentage of the volume accumulated by large players is at least 3%.
Pocket Pivot: At least 1 PP in last 5 days: there should be at least one pocket pivot in the last 5 days. This may be a bit confusing, because this will require at least one pocket pivot in the previous days, not counting the one today. Although, after the end of the day, the pocket pivot from today will count.
Signal: Pocket Pivot Today: there should be a pocket pivot on the last/current trading day.
Not a recommendation