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This is part two of the OLN chart presented two days ago. As a disclosure I am long OLN. CIRCLE THE WAGONS and use Fibonacci cycles in conjunction with your indicators.
Let's review Don's TRADE-MAP approach:
TRADE = 1. T : Time and space (Fractals); 2. R : Repeating Cycles; 3. A : Advancing Trend; 4. D : Declining Trend; 5. E : Energy in Phase Forces.
.....MAP = 6. M : Momentum and Velocity; 7. A : Analysis of Structure; 8. P : Price Performance.
When I mention "Don's Top Ten Technicals", I use the elements of the "TRADE-MAP" approach: SINCE mid December, 2015 IN THE CHART OF OLN:
1. The Ichimoku Cloud has stopped declining. 2. Prices have EXPLODED above the cloud. 3. Prices are trading above the thick red Ichimoku Cloud Conversion line. 4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the Ichimoku Cloud , which is rising and above the cloud. 6. The indicator on the top of the page is RSI / Stochastic , and this is strong. 7. The top middle indicator is vortex and it is strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is EXTREMELY STRONG. 9. The green fractal arrows are up (not shown). 10. Look to the far right on the chart, around $20.00. You will note a yellowish line on top (lips), with black dots below (teeth), and a blue line (jaw) below the black dots. Now, all three are rising, correct? This is where I ask you to use your imagination and envision these three items as the "separated jaws of a feeding alligator". This is a positive indication because the alligator is FEEDING in the uptrend.
FIBONACCI TIME AND SPACE: Please note that the vertical Fibonacci lines were coincident WITH EVERY PHASE ENERGY REVERSAL, UP AND DOWN.
Look at Circle Fib 1.618 at November 16, 2015. Do you see that the price action followed this circle!
I HAVE PLACED FIVE NUMBERED ARROWS ON THE CHART FOR YOUR VIEWING. Arrow 1 indicated Fib Circle 1.618 when the price REVERSED. Look above Arrow 1 at the falling phase energy bars. This is warning you of the reversal. Arrow 2 shows you Fibonacci Circle 1.272 AT THE REVERSAL OF THE CLOUD CONVERSION LINE. The phase energy bars did a negative cross-over of the zero line. THE ALLIGATOR WOKE UP AND FED IN THE NEW DOWN-TREND. Arrow 3 intersected vertical Fibonacci 3 (mid-Feb, 2016). The price action followed this circle UP. Also, look to the phase energy bars, which were reversing to the up-side. At Arrow 4 the price action was still following Circle Fib 1.272 AS IT WAS BREAKING OUT TO THE UP-SIDE. THE JAWS OF THE ALLIGATOR OPENED WIDE AND AN UPSIDE BREAKOUT BEGAN. Arrow 5 and vertical Fibonacci 5 (April, 2016) show you that all cylinders are clicking to the upside.
Take the time and CIRCLE THE WAGONS. Fibonacci time cycles help you to be made aware of likely event dates.
Today I will close with a quote from Sir Paul McCartney: “Somebody said to me, ‘But the Beatles were anti-materialistic.’ That’s a huge myth. John and I literally used to sit down and say, ‘Now, let’s write a swimming pool.'
I hope this has been entertaining, helpful, and informative. May all of your trades go well.
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