Textbook chart of an ending bottom and new uptrend starting. I don't want to miss out on this one, this could easily become the trade of the year.
The breakout is now confirmed, but i want to wait for a nice correction before entering.
Blessings to you all.
EPS due date: n/a, ETF
Horizontal S&R: some
Channel S&R: no
MA S&R: some, 20ma
Volume confirmation: no
Candle Confirmation: no
Stoch Divergence: no
Reg Trendline >85: no
Short Float: no
Risk / Reward: 1.2
Any feedback is welcomed.
Kind of a neutral setup. But its a beaten up sector, maybe time to bounce.
Monthly support shelf is holding in cloud so far. Kijun is flat which means prices are in range .
We got reversal from support zone . this support has been tested 4 times and we bounced again. Still below coud and at 200 sma
Prices testing cloud top. we have tk cross.
Watch it for now. A close above resistane might cause prices to catch up to...
Don's "TRADE-MAP" approach. BIB:
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"...
This is a two part thesis about BIB, the Biotechnology shares. The above chart shows you how much these shares have declined since mid-July 2015.
If you take the time to construct vertical Fibonacci time cycles and Fibonacci Circles, which I will call Don's CTW (Circle The Wagons), there is a wealth of information that you can use with your other trade...