We can notice an accumulation phase in the market. Pay attention at the spring, if you zoom in the chart you can see that the low of the spring has broken the low of selling climax and that is a perfect liquidity grab used by istitutionals to open their big long positions. Then you can see the gartley pattern that worked perfectly, now I expect a retracment and a...
Here is a breakdown on LTC because some have complained about my call to short LTC. I have not changed my bias. I want to give an example of the phases as I see it now and what I am looking for before I go LONG. This will be interesting for breakout traders since they usually don't realize that the break and retest trade is contained within phase C and may or may...
Welcome Traders to a new Educational Posts. Today we will have a deeper look at Support and Resistance. One of the most popular chart techniques out there, but the question?! Do they really work? Absolutely YES. But probably not like most of the traders think they do. That simple Break and Retest Strategy. NOOO! I would like to introduce you to the extended...
PS - Preliminary Support (buys provide a bounce to slow move down) SC - Selling Climax (Buys absorb remaining sells , end of panic sell off) AR - Automatic Rally (Price rise caused by volume buys and lack of sells on the orderbook) ST - Secondary Test (retest of support, may occur multiple times) Shake Out - Volume sell to drop price encouraging inexperienced...