many failed upthrusts occurred within the upper range and medium range of the channel. One major lesson I have learned with identifying a Wyckoff schematic is that ranges must be horizontal. Horizontal ranges would identify price levels. This is far more important than resistance levels. Though price and resistance may be the same, the concepts listed evolve around price still. Thus, this means that horizontal ranges are far more potent than angled ranges. This being said, now you can paint the real picture of strength and weakness at price ranges.
As you may see here, a big distribution is set in, we have a bullish stance at the BC, AR, ST level. The bias is a reaccumulation. However, it seems that we have sold into a minor sign of weakness. Price has then remained there in phase b, finally. We have confirmation of weakness as we go to retest the ST areas in phase a, failing to make a big upthrust. it is now that we are ready to move down.
It is evident that big money has sold off their shares to others.
great call! Would you look to go long at any point? I believe Liquefied Natural Gas only gains over time
Integrity_Investments
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@mavencoin, I am currently invested for the long term here. However, i think we will stop here around 2.70 for a quick liquidity grab and potentially see a big up move for the short term. I can not see it going back up to 6 without any reason so we are going to be news reliant as well as demand reliant for the swing back up