Great work Owen,
My chart
see’s an uptrend, this is seen from a hard base which can be observed if you look at the line trend, all the way to the bridge breakout at the Itaboca divergent co tangent. Not hard to see the metal of this base which continues to the upside. Some may now see a very good main entry, but be careful to keep your eyes on the trend, now is not the time to get planted with a crushing blow.
Its about now I see a little bit of resistance on my chart, no fear it is only a normal retention effect, or as some Wall Street folk call it the retention wall effect. Looking a little further on my chart I am starting to see a nice batch of solid concrete moves, which continues the trend line upward. The whole TA on this formation is looking like some cleansing statements could assist, and right on cue I see some filtration effects within no chart space at all. Looking at the chart now I see a typical break out which needs treatment, some say the old Morgan’s boardroom effect would assist and there it is the caipirinha & water treatment retracement. Fortunately the retracement effect is only a short time one, in a few days it wears off and the candles will be standing upright again and we march on.
We are starting to see some meat and potatoes develop within the uptrend now, you can just about dine out on this good looking upthrust wave shape, we see in the trend what’s often called the dining hall effect because of it’s alibility to fill your boots.
We are now getting to the foundation of what is one of the most critical area’s of the chart, now it takes balls of steel to maintain that foundation, however for those who do, you are almost at a magic point in the chart, it looks like a double top, but make no mistake it’s the Mayors Office or as some TA’s call it “the MO (Main Office) Fibonacci sequence” you sure do want to be around when this gets filled.
Those who have stayed with the chart and seen it’s abundant clues and taken good note are now at a truly wonderful place, in TA terms we call this spot the (FSS) flotation sweet spot, common to many traders who follow this difficult but rewarding chartist discipline. They will have arrived at this golden cross floatation state, the old (GCFS), a perfect point in the chart to see all that has helped build the trend, whilst in an almost lavational state they are nevertheless fully alert as can be attested to by the call often made when in this state of flotation………….. “Dam guys” “will you look at that “ the open pit, no gaps super nova effect” again TA's have this covered with the "runaway gap" or RG often this is where the money is made with the first signs of a pit trend breakout, you can even hear the calls being made back and forth with much hand waving when TA's spot this one, some traders call this the Red Gold Exponential Dance or RGED.
You can see the chart react once again with a little upthrust at the sight of the now beautifully formed walls of this latest uptrend pit lines are, called the pit uptrend angle or the P.U.A. to us in TA they often have reverse lines pointing to further unseen assets which will in time give the chart an earnings surprise right when the PB trend is searching for solid support.
TA guys will have no trouble following the chart but if not sure or just busy, just follow the last AVB site video and note well the inbedded clues, this will have you up with this TA stuff in a jiffy.
All in good fun
, have a great weekend all.
