this is what I saw - first it was a quick glance - but, now I look closer I see what I was seeing - here are my thoughts.
To make the post as uncluttered as I can - I will step back in days - and hope you can go and see the details on other charts. I will just put my thoughts in words for each section.
If anyone wants a zoom on any area - ask and I will post it.
1. An amazing breakout - (the one where I got in) - but, the bars are not growing regularly and the volume growth is not as smooth as last week (8). NB - it's August.
2. Na - just a jump up.
3. Jan 29 - lovely smooth runup in volume - but, jumpy in bars - pretty nice run though
4. Angle is quite different (lower) bars all over the shop - starting with black candles and vol. breaks down.
5. August AGAIN - the big run - candles(bars) grow nicely at first - but, the vol. actually dips after the first day - has a think on the 13th - then gets on with it - lovely run - but, still, not the same as run 8.
6. Nothing like it - all over the shop like my dog when he hasn't been out for 3 days.
7. Not really worth looking at.
8. Coming off a pretty solid double bottom - bars growing beautifully, volume - as smooth as a babies bum in growth - naturally coming after the long long down trend of months duration.
STARTING with a gap - coming on news - unusual - but, the news was a bit different.
Blowing through the extremes of the candles in the downtrend - and just blowing to bits the closing trendline - as if it didn't exist. Belting through the resistance at 75 like it was a sieve.
So - in my mind - it's very different in character.
Is the downtrend over? ----------- I wait for the pause and retrace - at whatever that point will be to see what happens.
This could just continue to run to a buck without a breath - she can do that - or she might come back sit on the trendline and bounce off. Of course - she could play with our emotions and make it a false break as well ------------ looks a bit unlikely - particularly with the news imminent - and plenty of it.
For my money - this week has sent a strong solid signal - even if the break is not what it seems - the signal is crystal clear --------------------- she WANTS to run. If someone holds her back - when she breaks free - she will run harder.
At this stage if I were to put a bet on it - I would say the girl is away - and it will take some strength to pull her back - maybe not even possible.
Once she is clearly well away - and makes a new high - once the market (humans and machines) get the idea we are in clear air - I can see a rise to around the 150 mark - apx. - maybe 140 - at least -- no way can I see 120 - I would not consider that a new high - technically of course yes - but, in practicality - I would consider that a double top - assuming she didn't go on with it - but, I suspect she will.
Duration to 1 dollar could be very fast - see last august - for duration - I would just watch the angles - this girl goes against the grain - she goes up at a faster angle than she comes down - don't know why - but, for a solid position - makes it impossible to be out and in.
That's pretty much it - watch the size of the bars (candles) like a hawk - watch the volume and watch the angle.
if the bars continue to grow and the volume pokes up - and the angle doesn't change a lot - this could well be the start of a major run - and, I mean major - many many months - maybe a couple of years -------------- the size of the bars is a real giveaway.
IMO - the recent tiddler placement and instos adding around that sub 60 mark - well, they won't want their position to go red - so, they will join the let her run game.
How far can she go for a major run??????????????????????
We wait!
have a great weekend.
AJX Price at posting:
77.0¢ Sentiment: Buy Disclosure: Held
(20min delay)