Here is really big picture for anyone who interest:
Chart 1 : Monthly chart
- Monthly chart is for long term trend ( one to many months)
- April end with big hammer, or almost dragonfly doji. it may mean end of trend
- May start with red candle, which confirm April's end of trend
- It is only first week in may, so will see what happen in next 3 weeks.
Chart 2 & 3: weekly chart
- Weekly chart is for medium trend (weeks to few months)
- Chart 2 should give you some feeling about 2011-2012
- Chart 3: Week 2 (for may) should be Red base on daily chart
- Chart 3: if week 2 is red, then chart will look bad and it may trigger stop/lost sell off.
- Chart 3: if week 3 & 5 can't hold (similar to april), then monthly chart will look bad, and downtrend is confirmed on monthly chart.
Chart 4: Daily chart
- Hit resistance for 2nd time and fail
- Price drop below previous low (this is bad signal after hit resistance)
and energy index(XEJ) on downtrend with confirmed signal:
- monthly chart: stochostic head down wave
- weekly chart: MACD head down and cross over 0 line
- Daily chart: price drop below MA100, MACD line is below 0 line.
I think it is very high risk atm, just wait for next 2-3 see if it can hold.
Please DYOR, I won't give any sentiment because I made bad decision all time.
