Really great analysis. I'm new to this and your straight-forward, clear to understand, visibly pleasing charting actually insipires me, lol. I'm not sure if anyone can answer this, but:
In terms of the inner blue triangle (as compared to the "true" trend line triangle) - is there any signficance to this? I can also see that on the 2nd we had a close within the outer triangle, but not within the blue area. 1. Is that likely normal consolidation/external factors prior to continuation of breakout & 2. Does the close within the outer triangle but not inner signify anything?
Last thing. RSI is pointing out "hidden divergence" on the uptrend signaling continuation of uptrend?
At any rate, thanks!
TradingShot
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@elpisofchaos, Thank you very much Elpis! It means a lot to receive support from enthusiastic followers.
As for your question, there is no particular significance to the inner blue triangle, I drew that for better display purposes. 1. Correct. 2. No it doesn't signify anything nor change the fact that we have a bullish break-out. As for the RSI's bearish divergence, it played a part in showing the consolidation on the Triangle (i.e. after the September 01 high, but so far doesn't seem to change the long-term bullish trend.
alshammaryk
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415 WAS BROKEN 406 AH
TradingShot
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@alshammaryk, It was a bullish break-out above the Triangle. Technically we should see a sustainable uptrend up to our Target.
PolarHusk
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GoodJob🐻❄️
TradingShot
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@PolarHusk, Thanks Husk. What is your particular view on TSLA?
In terms of the inner blue triangle (as compared to the "true" trend line triangle) - is there any signficance to this? I can also see that on the 2nd we had a close within the outer triangle, but not within the blue area. 1. Is that likely normal consolidation/external factors prior to continuation of breakout & 2. Does the close within the outer triangle but not inner signify anything?
Last thing. RSI is pointing out "hidden divergence" on the uptrend signaling continuation of uptrend?
At any rate, thanks!