Tcheg, here is my take on FRS atm on a weekly, posted two charts first is the weekly over the last 13months and the second I have zoomed into the last 20weeks, also please excuse my grammar on the second chart, da
to make it a little easier on the second chart I have numbered the weeks
NO1. is the second high volume up week in a row - we always proceed with caution if in a trade and these things come along and also I would never buy into a bar like this cause of the huge volume ( potential selling or offloading)
NO2. note the volume is much less ( smart money has now stood aside and everyone else is now excited about trying to continue it up by themselves, we can now mark a line where the weakness is to be seen, myself I mark it on the close of the previous high volume bar
Note it may a higher high ( catching more buyers ) but closed lower ( trapping you in to a losing trade ) followed by a much lower week were some recent ST buyers would have been selling out
NO3. this week goes up and closes high but on less volume
NO4. this happens to be the week that the general market peaked as well. NOTE the big increase in volume from the previous few weeks and it made a higher high (catching more buyers) but closing level (weakness) and it is basically at the same level that all of the previous weakness has been seen. During this time they are simply holding the price up and continuing to fill their sell orders to the unwary before letting it fall over, all the following weeks finishing low on the bars
NO5. see the increase in volume and the close of the bar is up off the bottom a little (bit of strength from their buying)
NO6. But the very next week they are into it again with a high volume up closing well off the top (selling)
NO7. is the result of the selling in the previous week but note how the close of the bar is again up off the bottom and it combined with the bit of strength from week5 now stall the drop and push it sideways
NO8. is where I would have bought in, after the lowest volume on a down week on the previous bar with that bit of strength behind us, but on
NO9. we are hit with more of their selling a high volume up week closing again well off the highs and in that same level as the close of week6, but we have this current week sitting down okay and not to much selling which is good and another positive is it is slowly uptrending
sorry about the long post and hopefully haven't been too confusing
