PLS chart, page-5592

Hi Folks

I am again on my Distgap PLS chart theory. I won't go through the whole theory again, it takes too much time, just look up my previous PLS charts post.

Well something happened on the weekly charts today that gives me some slight signs of confidence. The weekly Hi-low candle cut cross the 10WMA line. No party yet but its a start. I fully expect that the weekly Hi-lo candles will cut across the 10WMA for a number of weeks. We shall see.

I am looking for the 10WMA to flatten out over the next month or two

Have a look at the chart. I have labelled the three distgaps (purple 1 , Red 2 and Green 3)

For the first time in my PLS chart posts I have labelled the bullish signal (purple 1 , Red 2 and Green 3). These occur when the weekly Hi-lo candles first trade entirely above the 10WMA. I ignore the weeks when the HI-lo candles cut across the 10WMA. The bullish sentiment is negated if the weekly Hi-low candle trades entirely below the 10WMA. This did not happen into the run into Distgap1 (Purple) . This did not happen into the run to Distgap2 (red). This did not happen into the run into Distgap3 (green).

So all the Bullish signals worked through the so far 3 Distgap cycles.

What next?

I am looking for the first week when the weekly Hi-lo candle trades entirely above the 10WMA. To me that will be a signal that we are heading for Distgap4 (Blue). This signal will not be turned off until the weekly Hi-lo candle trades entirely below the 10WMA ( I ignore the cut across candles)

Just the way I deal with the markets so that I am not surprised by what plays out . As always DYOR.

We shall see? But the signs are good.

cheers Lies