Short Term Trading Week Starting: 9 Jan, page-134

  1. 4,136 Posts.
    Hadn't looked at my LTR chart for a while. I previously had drawn only the green and yellow forks on it. Added the blue and pink ones to it today. Looking at the yellow fork, bullish signs historically would have been failure of price action to hit the top yellow tyne on the retrace at the point where it first hits the lower blue tyne. Price was still dropping however and if I was looking at the chart in the past week with the pink fork already drawn, I would have seen the pivot prior to touching the lower pink tyne as my sign to buy.

    The gap up above both the lower blue tyne and the green median I interpret as bullish as the best way to clear a resistance level is to gap over it. With an eye on Hagopian's rule (if price pivots before a fork line, it will swing further in the other direction), the only fork where this hasn't played out yet is the pink one. So current move could run to test top pink tyne. More likely is the test of the second yellow warning line at around 3.6c though. LIONTOWN RESOURCES LIMITED_01-09.png
 
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