A brief update.. However there isn't anything really new to post. This move is playing out with exactly as expected. This is a high probability move which is pretty much saying that if you aren't on board for it then you've probably missed the boat for this current swing.
Here is the
previous analysis and the
trade entry
As always, let's have a quick look at the week ahead, starting with the largest time frame and working our way to the least weighty.
Weekly
This is a great look, it feels like the share price has copped a bit of a beating recently, but this chart puts things in perspective. Despite all the bear efforts, including the rubbish on the forums, not one week have the bears been able to close this under the 38.2% fib at 0.350 and the second attempt to get through the 50% couldn't even make it all the way. I believe our green w5 will begin to turn up now over the next couple of bars(read weeks) and we will be making higher highs again in coming weeks. All MA's except our w5 is increasing in angle. Great stuff
Daily
Massive divergence now playing a part on this move and should assist in returning some of the momentum we've lost. Remember that this breather has been healthy for the share price Technically speaking, however it appears to me we are on the way again. The Cyan e55has been the support at a distance repulsing the green w5. It should go straight through the yellow e21and keep going now. First target after some minor battles on the way is the 0.0% at 0.495
h
Hourly
This chart has a confirmed a very strong and high probability bull swing taking place. For those who got in early, well done. If we close on the hourly above the s200 (dotted dark red) and the bounce off it (even use the 5min to confirm bounce) then move your stop loss to break even +1. We may see the green w5 do a small bounce to give the other MA's a goodbye kiss. We should be well and truly on our way if that happens, and we can all watch the power of this signal unfold in real time as we have been. I love to see it. However, it needs to be said as always its a high probability, not a guarantee. There are no guarantees in this game.
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I am expecting a good week ahead. All the info we need has been posted for this move. I'll confirm later in the week as I probably won't be watching too closely unless for some small possibility we turn back down again.
Some have said it's hard to the analysis with so much rubbish on the threads at the moment. If you are on the lookout for posts by certain people, you can "follow" them (I think by clicking on their little picture) and this will give you a notification when that person posts, whoever it is.
(20min delay)
