BIG Chart and TA Thread 2.0, page-9

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seresavo583

30 Posts.

25/01/18

11:05

Post #: 30560281
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Originally posted by squeef ↑

I'm going to open myself up to ridicule by posting a chart I drew that's not based on any conventional wisdom that I'm aware of, other than a basic trend line. The historical trading patterns were too distinct to ignore.

Last 2 growth periods lasted for 1 month 6 days and 1 month 11 days, while sideways movement back to the trend line lasted for approx 1 month 3 weeks (give or take) both times.

Dips under the trend represent value buying and have been accompanied by lower volume, followed by periods of higher volume and surging ahead of the trend line.

Would be cool to see if this can be backed up by fib levels or another chart pattern.

If we're taking off again now, then we'll have seen a shorter period of buying value below the line, which makes sense considering the current fundamentals.

I present the 'Visual Baseline Price Action Logo Scale' (VB Pals for short).

Key takeaway to test my model...expect a new high to peak in 5-7 weeks if we can confirm take off before the end of Jan

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Good stuff. One thing that caught my attention is the amount of time it took to develop each wave. It is said that in a bull market, upward movement runs for longer duration than retracement and vice versa for a bear market. This is because it takes longer to build something than to demolish it. Interesting to hear your thought and others. Cheers.

BIG Price at posting: $3.63 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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BIG Chart and TA Thread 2.0, page-9

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