Hi
@ddwnSome Wyckoff
HERE &
HERE
From what I've read of it previously and what I understand, it is obviously a sound method by all accounts by someone (years ago) much more experienced and smarter than I.
I presume someone(s) considering MSB going through phases as above?
It's a fair read when you look at the phases of the MSB chart. I try to also consider, where is the company now? Has there been fresh FA that can justify the current price? Is the SM distributing currently or reaccumulating for another leg up? Is the wider mkt supporting?
Obviously, can only read charts as individuals and make own assessments accordingly as not going to prentend to know exactly what the big players are doing in the background, however there is some merit in the view & recent moves over the past several months. To watch, as per above snips, would be a higher volume quick markdown punching down through say around 2.60 / 2.50.
Personally, here's some various charts below with notes and I'm seeing some neutral / consol at the mo. Is this some distribution still? Possibly, and hence the comment above watching for any major move to test the mkt or stops. The pocket pivots have some bullish indications to consider.
https://traderlion.com/trading-strategies/pocket-pivot/Read the charts as overlapping, looking for common considerations eg supp / resist zones.
Are there more FA expectations (known / unknown - indicative) that the mkt are considering?
(20min delay)