New TA/Charting, page-8251

Well looking at where we are in the chart, we might as well look at the very basics of where and how a new uptrend is coming into being.

The level of interest is $1.345 - $1.36, which is not only a zone of resistance, it is also a zone where a lot of people show renewed interest, because base on the above schematic is is an area where a new uptrend is in the making. LTR had the low at $1.145, then advanced to $1.345 for a high before falling back to $1.205 for a higher low. Now LTR is advancing again, but needs to not only break the $1.345 line, but also close above that level!
The above schematic shows that $1.345 line, which is also known as a parallel entry, where people start jumping in => increase in volume visible in more short term charts. However, as we saw today, that level often is retested and so some (conservative) people/trader/investors, depending on their risk profile, do wait for it to actually be broken and SP closing above that line to then in take full advantage of the next move up!
During this period early indicators, like the RSI, Momentum, MACD, Stochastic depending on setting keep on advancing and moving averages like the 5 - 10 EMA may start crossing the still falling but slower 20 SMA. This then will show up as early buy signals in the dashboard I have been posting from time to time ...


mostly quite some time after I have suggested that the bottom was in, but hey some people need more signs and time to be convinced, as we have seen regularly. They even see the question of "why are you still so bearish?" as baiting or flaming, adding to my long list of moderated posts. During those circumstances "Confirmation Bias", is another term likely to be used to call out my virtually non existing charting ability.

That then is the point in time where I'm thinking that one has to make up one's own mind if one goes with forecasting by trying to foresee what’s coming or if one goes with "Hindsight Bias“, because once we know the outcome of something, that knowledge skews our perception of what we thought before we knew the outcome. As you guys know I usually go with trying to foresee what's coming, because IMCO "Successful investing is about having people agree with you ... later!"

Anyway here is another chart update illustrating the above schematic in regards to LTR ...