AI
Thursday, June 28, 2012 8:47:15 PM
Art Hill says one should determine the trend.
And just as important you should determine what would it take to change your mind about that trend.
With that in mind, let's take a look IWM_D via Wyckoff Method.
In the chart below is shown "ACCUMULATION:
(1) There is a SPRING.
(2) There is a BREAK OUT, but it lasted on 2 days.
(3) There is a PULL BACK, but most of it is with in the tan area (ACCUMULATION )
(4) There is also a MARK UP
TRANSLATION:
To take the bullish side there as to be another BREAK OUT
and prices have to eat away the over head resistance.
Can it happen?
YES.
But the current probability is low.IMHO
And just as important you should determine what would it take to change your mind about that trend.
With that in mind, let's take a look IWM_D via Wyckoff Method.
In the chart below is shown "ACCUMULATION:
(1) There is a SPRING.
(2) There is a BREAK OUT, but it lasted on 2 days.
(3) There is a PULL BACK, but most of it is with in the tan area (ACCUMULATION )
(4) There is also a MARK UP
TRANSLATION:
To take the bullish side there as to be another BREAK OUT
and prices have to eat away the over head resistance.
Can it happen?
YES.
But the current probability is low.IMHO
CHARTS: TREND AND MOMENTUM
http://investorshub.advfn.com/boards/board.aspx?board_id=12981
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
