AI
Wednesday, December 01, 2010 1:04:45 PM
T CHART:
I've been watching this for some time now. Today marks the change in the trend.
1.) Falling wedge pattern is Bullish. We buy once the candle breaks north of the upper trend line.
2.) Yesterday shows a doji candle of indecision. These candle are useful to point out a change in sentiment but need a confirmation with the next day to give notes to a change in the trend. We see such a change with today's candle.
3.) All the major indicators have now turned up from their lows and are turning bullish.
4.) The MACD (a lagging indicator) shows a crossover below the zero line. This is bullish and gives us much room to run. Next we want to see the histogram turn green. Finally we watch for a zero line crossover by the indicator to give us a confirmed bullish move for the stock price.
I've been watching this for some time now. Today marks the change in the trend.
1.) Falling wedge pattern is Bullish. We buy once the candle breaks north of the upper trend line.
2.) Yesterday shows a doji candle of indecision. These candle are useful to point out a change in sentiment but need a confirmation with the next day to give notes to a change in the trend. We see such a change with today's candle.
3.) All the major indicators have now turned up from their lows and are turning bullish.
4.) The MACD (a lagging indicator) shows a crossover below the zero line. This is bullish and gives us much room to run. Next we want to see the histogram turn green. Finally we watch for a zero line crossover by the indicator to give us a confirmed bullish move for the stock price.
Boca_Bobby
Mom said there would be days like this!
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