It has been a pretty good year as far as working out these setups goes!
For now, "assuming" we are headed into a rough patch of wider market conditions, I believe these setups will still present themselves, it will just be a matter of adopting an entry that offers a bit more certainty, i.e. not loading up on the fibs as it corrects, but maybe a staged approach with a bigger position taken above the CBL and then the 61.8 resistance above etc.. I'd expect plenty of these to show the initial setup and then just simply fail below the 50% fibs given the wider negative sentiment.
ALC for example, is below the 50% fib, so not exactly the strongest setup we are looking for. If it gets above the CBL, then the 61.8 fib, then we get a new high in the 9/13 ema's it is showing us that it is a strong stock given the market conditions.
When we get a return of the raging spec market then loading up on the 38 fib might become necessary for chasing the higher returns etc.
