Nice double top off an Adam + an Adam. Price currently sitting on the 50% Fib. Bullish Harami candle pattern. So at the present price if that gives confirmation we get a good run to the top again with another attempt to break the 0.017 zone. I think that the candle on the 21st is too high and it's not going to act as a Harami. I think we'll see a retrace to fill that gap before we have another move on the double top. No matter how it plays out this is a great price to keep an eye on for the next run and for day trades inbetween.
I didn't think that Bullish Harami was going to play out for the reason given and it didn't. What's nice is to see that the 50% Fib is still holding strong offering at least two nice trades. I still stand by my original analysis as it's better to shut all windows in your house before having a long holiday. On the other hand if this can be confirmed as a breakaway gap, I'll be looking forward to the rise in price to fit the next two gaps as they come in a pattern of three.
Working off this Articulated Cartesian chart as it gives us a much better view of the Dominance plots and efficiency curves. Also keeping it in simple terms. We have just over 30 days to complete this present cycle. According to the waves and the gap. I'd still like to see that retrace to fill the gap with another attempt on the resistance. Once that resistance is broken I see no reason why this can't go to the mid 6s to begin with.
I notice not too many posters that follow TA use Cartesian Charts. So I have left my working formula in place for anyone interested.
I still haven't entered due to a health issue. I hope your making a mint Dazza. Thank you for the very kind words.
Again I'll update as it warrants it. Also my analysis is based purely on the charts. So as you are all aware a very positive/negative announcement can have a positive or negative effect on the chart. As the 50% is holding I don't presently see any bad signals.
LOM Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
