JL, Jesse Livermore loved this phrase, "selling down to the sleeping point." AMRN surged 27% from such a pivot point (arrow) on 2/1/2017. He's also quoted as saying, “All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis.” This consolidation pattern is not broken. I'm not saying the trend is broken, I'm simply saying that Livermore is right, it was time to load up during the sleepy dip to the up trendline a month ago (green box), and now the chart is telling us we are going to return to that condition before another push at a major breakout.
By the way, the yellow highlighted bars above are in fact one day reversal bars. Both upthrusted highs and closed below the previous day's close.
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