As per my previous REEF chart posting, REEF has formed a massive cup & handle formation and is now working on the formation of the handle itself. The white triangle represents the area that the handle formation is occurring. Currently there is a divergence between the price action and the H.V.D. Volume Analysis Indicator which looks to be a good sign that the price action will be moving upwards to the white dashed line to continue building the handle.
I think this is going to be a very substantial, positive price move once the price action breaks out of the handle formation.
These are the only indicators that I use, and in my opinion they're the best combination available for trading. (With stock volume and 200 D.M.A.) My P & L clearly demonstrates this fact.
Don't let them shake you out of your positions. The smart money is buying up those monster red candles for a reason! I was right there with them buying up the lows.
REEF is seriously lagging atm, Its overdue an explosive move
MetaShackle
⋅
@ashleydanielmackle, It is, that's why they brought it down so hard today is so they could buy up the shares on the cheap. I was right there with them buying the hell out of that big red candle! Then I sold half into that little rally to lower my risk. Already sitting on a really nice profit!