Weekly Charting - 17th August 2018, 35018603, page-11 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by Jako8557 ↑

Feel free to post any analysis on Individual stock charts, Index charts, Currency charts or Commodity charts.
Traditional T/A, Fibonacci, Elliott Wave, Gann, Wyckoff, or even something more specialised.
Day Trading, Short Term, Swing Trading, Momentum Trading, Position Trading, Longer Term.

Do you have a favourite chart you would like to show others.
Or maybe a particular charting principle you have seen, or would like to learn more about.
Is there a some analysis you want on a particular stock, or instrument.
Ask questions, offer answers, anything to do with charts and chart analysis.
Over the weekend this is a place to share.

enjoy your time in the room.........

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In the past I tried to look at a particular charting, trading principle or a Quiz to test your knowledge
I re-post the list for reference.

Previously I posted about a Wyckoff principle called springs - click here
and their mirror image opposite called upthrusts - click here
Then I posted about a principle called bullish absorption - click here
Following that was about a VSA principle called End of a Rising Market - click here
and then the mirror image opposite called Bag Holding - click here
Then we considered Looking for Trades at the Edges of Trading Ranges - click here
and two weeks back we looked an example of a Potential Accumulation Zone - click here
We have looked at a VSA principle called Upthrusts - click here
Next we considered what a Serious Supply Event - click here might look like.
We have also looked at another Serious Supply Event - click here
Then we looked at trading and Position Size in particular - click here
Following this I posted some diagrams about Traditional Chart Patterns - click here
Since then we looked at Accumulations Zones - click here
and after that was a discussion surrounding various Wyckoff Terminology and the Wyckoff Schematic - click here
Then we looked at Consolidation - click here
10th November 2017 we had a broad look at Volume - click here
17th November 2017 was the VSA principle of Tests and Testing - click here
1st December 2017 was all about the Shakeout - click here
8th December 2017 looked at Reversals - click here
15th December we looked at a specific type of test the Test in a Rising Market - click here
22nd December was a brief discussion about stop placements - click here
29/12/2017 was about the background of the chart and its influence - click here
02/02/2018 was about Double Bottoms - click here
09/02/2018 was about understanding Price and Price Action - click here
16/02/2018 was about the trading action which may occur prior to Price Changing Direction - click here
23/02/2018 was a Quiz to test your knowledge - click here
02/03/2018 was a Quiz to test your knowledge - click here
09/03/2018 was a Quiz to test your knowledge - click here
16/03/2018 was a Quiz to test your knowledge - click here
23/03/2018 was a Quiz to test your knowledge - click here
29/03/2018 was a Quiz to test your knowledge - click here
06/04/2018 was a Quiz to test your knowledge - click here
13/04/2018 was a Quiz to test your knowledge - click here
20/04/2018 was a Quiz to test your knowledge - click here
27/04/2018 was a Quiz to test your knowledge - click here
04/05/2018 was both a Wyckoff principle called Up Thrust after Distribution (UTAD) and a brief Quiz - click here
11/05/2018 was both an example of Bar by Bar analysis, and a brief quiz - click here
18/05/2018 was both a Quiz to test your knowledge, and some Bar by Bar analysis - click here
25/05/2018 was a Quiz to test your knowledge - click here
01/06/2018 was a Quiz to test your knowledge - click here
08/06/2018 was a Quiz to test your knowledge - click here
15/06/2018 had a brief explanation of a VSA principle called No Demand, and also a short Quiz to test your knowledge

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Following the Dow Jones chart along.

The initial shakeout and response can be seen.
Then the market rolled over adjacent to the previous high.
Price then came back and formed a secondary shakeout on Wednesday this week.
And the response to the second shakeout was strong - most likely because all (or most) of the supply between the previous high and the shakeout on Wednesday was already bought (whoever was going to sell had already done so, leaving fewer than normal sellers at this particular level) so there was effectively a supply vacuum in place (a lack of selling pressure).

Price is now in position to breakout above the previous highs (again). The momentum generated may just carry price higher with no delay, or perhaps after Thursday's strong price rise, price may consolidate the gains a little first, and make the big push next week (I don't expect demand will be lacking this time around.......but nothing is impossible in the markets.......).

What do you think will happen adjacent to the previous highs ??
Do you have a different opinion of this chart ??
Ask any question about my analysis, and will expand on the principle if possible.
View attachment 1244726

cheers

Expand

Hi everyone, hope your all achieving greatness during the week.
The most obvious thing that stood out to me on this one, after that last bar printed, was this being only the second time we've seen price close above the gap left 2 weeks before the top was put in, marked here with red lines, and the last time this happened the following bar completed a 2 Bar Reversal in upthrust like fashion of this gap.
2 weeks ago saw price upthrust this gap again and close just inside it before responding lower but there was no increase in spread or volume to the downside, indicating a lack of Supply compared to the last time, price was subsequently hammered into previous Resistance with that second more violent Shakeout springing higher from there, showing support for this move over and above the gapped zone. The close is off the high and still within the range of the bar from 2 weeks ago, Monday's close will be an important one if its still above the gap and would be looking to set a new high from here.
I marked other noticeable reactions before the top and next line of Resistance appears to be 25810.43 as marked

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