Just another way of looking at a fulcrum (W formation) -
Current move down can go below prior low, or hold above,
either will work with this pattern. Key is to reverse
and break out above the "Back". Initial target is
the "Tail", and with follow through, the Ext. Tail.
Of course, PnF will have its own targets to add
for possible confluence. :o)
Having seen price fully retrace to "G", odds favor this being a 3PDH formation.
Its possible we may see a rally should the potential inverted H&S materialize,
but there is no time limit for the target to be reached, so this could
occur at a later date. The targeting from this formation could easily be
combined with other T.A. methodology as supplemental information.
From Lindsay's book, the move up (and subsequent decline) of IIPR
appears to meet the criteria of a 3 Peaks and Domed House formation.
One critical aspect of this pattern is that the decline must fully retrace
to the bottom of the Separating Decline (G). The ultimate target has
no time limit to be reached (if it is to do so). This targeting could
This potential "M" pattern (inverted dragon) would go a long
ways in adding to the "inflation is turning around" thesis should
it play out. Our initial (full) vertical target is confluent
with the posited "tail" area.
Another recent example of seeing the lower timeframe supported by
the higher. These situations occur over and over again. They provide
a nice way to "pick off" entry opportunities. When we see the longer
term Moxie below 0, time to start looking for short opportunities
on lower timeframe(s) (ie hourly, 15m).
Nothing new here, just wash, rinse, repeat. 😊
WTI has seen a nice move up. I've highlighted a few buys/sells along the way.
We're in a confluent target area currently, and consolidating. A break
could occur at any time. The move is losing momentum.
I hope this provides some insights (not financial advice) :o)
Tin offered several quite bullish PnF setups during its ascent,
one right from the start.
Vertical measures provided some insights into
areas to be reached.
There's always a bull market somewhere! :o)
Hope this provides some insights for the PnF 'ers among us.
Note: not all buys/sells noted.
Couldn't get 'em out the door fast enough. :o) Remember?
From the first vertical measure, it was apparent that a selloff
be quite a set back. While these targets are only estimates,
they can provide some valuable insight into what may lie ahead.
With the TL break, a 2nd measure could be done, and this one was
the one to grab one's attention. Again, no...
CENX has built a nice base, and appears ready
to move up. (Those familiar with DeVilliers/Taylor
might see this as a large fulcrum (with a smaller
continuation fulcrum) following). I've highlighted
a few pattern setups within this basing structure.
I've included vertical measures for prospective
targets. I apply the 3 times measure of the
"count" column, with...
PnF look at MJ. MJ is currently testing past potential support
following a failed up thrust. We can still drop another point
before violating the prior key low. We'll need a move
to 13 to turn this thing around (at least temporarily if not longer).
Work to be done.
I hope you find this perspective to be of benefit.
Following on from prior post, I've shown the proposed exit of prior enty,
with new entry opportunity, again supported by the hlrly Moxie.
Even had a nice 2nd chance entry area as well.
Hope you find this beneficial.
Yet another example of how a higher timeframe Moxie might
aid smaller timeframe setups with Moxie. Its a simple example
of longer term momentum supporting short term momentum
based trades. Nothing magic here.
Hope you find this to be beneficial.