Wednesday, January 25, 2017 6:55:55 AM
MJNA...big consolidation triangle formed...personally I tend to 'see' these patterns as bullish and expect the up trend to continue.
Could try an early entry, in the circled area as stochastic heads toward oversold (expecting the lower line to support price)
Or
Wait for the reversal of the current downtrend and enter after price action suggests it has indeed reversed and get on board for the breakout of the upper line...
I'd measure the potential breakout target to reach .4 ish
I stick with the idea of buying the dips...I first heard of this back in run up of the dot-com 'bubble'
(You probably are aware that my T/A bias is nearly always bullish - see the chart below for why )
Could try an early entry, in the circled area as stochastic heads toward oversold (expecting the lower line to support price)
Or
Wait for the reversal of the current downtrend and enter after price action suggests it has indeed reversed and get on board for the breakout of the upper line...
I'd measure the potential breakout target to reach .4 ish
I stick with the idea of buying the dips...I first heard of this back in run up of the dot-com 'bubble'
(You probably are aware that my T/A bias is nearly always bullish - see the chart below for why )
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