Even though I personally want a drop. We developed into a F flag which is? Bullish until it breaks down. Still hoping this is a failure to make a higher high. You guys?
Even though I personally want a drop. We developed into a F flag which is? Bullish until it breaks down. Still hoping this is a failure to make a higher high. You guys?
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
If it is a DCB then it was a little one (at least so far this morning). Now you have me looking at everything again!
I don't see a DCB. I think this plays into your charting very nicely. Good luck getting to a good stop in time!
Dip did get bought right after the gap fill, but bounced only to 1% decision point and failed. Now it looks like it formed a descending triangle with 1640 acting as resistance. Your 1636 didn't even act as support on the way down or as support for a high base after the dip. I may be wrong but I think when it doesn't bounce back 1.30% it's like a DCB. So what now? 1623 holds, 50 day at 1606ish or double bottom at 1601. I show my guess but tomorrow is another day. We're still above 1623 and I have the whole morning to decide. 1584 is within or purview and the fear of 1540 is not out of range. Remember bear begets more bear. better to have heads up on the risk.
Last edited by Bquat; 06-11-2013 at 06:30 PM. Reason: Added lower support levels.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Well, according to futures this was not a descending triangle. Too short of time frame. I guess on the bottom the double bottom prevails. Well if this is a head test and we passed it, I should enter today. Break 1540 and I'm getting in. I still don't think I would not of entered yesterday with the weakness after the pattern because it never got back up to1648. I guess I still second guess myself too much. I still believe missing gain is better than risking loss. The weekly is still weak to bearish. And so we watch for the 1% decision, that's if it happens pre-deadline.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
Cleaner chart to watch the action:
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
I'm not seeing the strength needed for the IHS.
Don't bias your charts. Show support and resistance. My comments and charts are not trading recommendations.
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