Thanks Jako, nice quiz , I can see I need to at least attempt to use less lines
Looking forward to the next few weeks challenges, I'll try to improve on this
Something I've noticed on several charts, and also appeared on the second Bullish Absorption chart, is the appearance of very high volume, possibly climactic, appearing after the response to the low pivot, several bars after what looks to be the Structural Selling Climax on the chart, but the volume tells a different story.
If this volume appeared just before the bottom I've read this can be aligned with a Selling Climax in Stopping Action, and in a higher Time frame may even be a part of the same bar however I'm trying to comprehend, in hindsight, the high volume that appears after the bottom pivot, could this also be seen as part of what still fulfills the role, although obviously not ideal, of a SCX within Stopping Action? Or is this simply an example of a bottom pivot in real time that did not see any Climactic Supply but instead saw a lack of Supply in the thrust lower that was overcome by Demand that rallied, absorbing all available supply on what looks to be the Auto Rally higher until it reached a strong Supply zone waiting above?
Just wondering if you have an opinion on this style of bottom, would it simply be considered not ideal for the lack of transfer of shares from weak to strong hands, therefore the drawn out sideways range in response?
Obviously we can only see a portion of whatever the rest of this chart is, is this a Reaccumulation of an existing uptrend?
Cheers
, I can see I need to at least attempt to use less lines
