AI
Thursday, October 30, 2014 5:54:32 PM
FNMA chart
Ps; this is basically the same chart HK & MPO have, but they haven't failed. NOT island reversals, which adds comfort on success. That's why I have them on strong watch for possible successful ascending triangle patterns. Been strong watching FNMA, but expected island reversal bottom channel won, as expected.
Island reversals are phycology/sentiment plays with phycology strength. When sentiment is as strong as the gap down, it will fill large gap above. Volume in/ volume out ! Sentiment needs to be strong to change phycology. Else the channel continues.
Ps; this is basically the same chart HK & MPO have, but they haven't failed. NOT island reversals, which adds comfort on success. That's why I have them on strong watch for possible successful ascending triangle patterns. Been strong watching FNMA, but expected island reversal bottom channel won, as expected.
Island reversals are phycology/sentiment plays with phycology strength. When sentiment is as strong as the gap down, it will fill large gap above. Volume in/ volume out ! Sentiment needs to be strong to change phycology. Else the channel continues.
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