A Bottom Triangle/Wedge formed (see chart published 10 days ago when XME-was $24.00). This consisted of a group of patterns which have the same general shape as Ascending Triangles. This formation in-XME was forecast to be an (upside) reversal and not simply a continuation pattern. The breakout pattern has two converging trend-lines. The pattern displays two highs touching the upper trend-line and two lows touching the lower trend-line.
There is also a way to calculate the upside potential in terms of time and price. This formation took about 100 days to form. My upside projection is to $35.00-$37.00 in the next 100 days. Where are we today?
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:
1. The is rising as well as the 89 day moving average . 2. Prices have risen above the cloud. 3. Prices are trading above the thick red Conversion line.
4. The thick red conversion line is also rising. 5. The thick black line is the Ki jun-Sen baseline of the , which is rising and above the cloud. 6. The indicator on the top of the page is / , and this is strong. 7. The top middle indicator is and it is EXCEPTIONALLY strong (green over red). 8. The Top (bar-type) indicator measures the "phase energy" of the stock , and this is STRONG. 9. The green arrows are up (not shown). 10. Look to the far right on the chart, between $26 and $28. 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 is FEEDING in the uptrend. IN ADDITION - THIS IS $4.00 ABOVE THE POINT OF THE TRIANGLE (AND ) UPSIDE BREAKOUT. This is a very strong up move.
I would like to close with a quote from Richard Jeni:
"Success is made up of courage, brains, and luck. Since the first two are a function of the third, it's pretty much all luck."
I hope this has been entertaining and informative. I hope all of your trades go well. Don.