Another Bullish sign: Formation of energy coil at support. It is long till 140 stop loss below 121
Successful chart reading is a study of Force. It requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side. There are critical points which occur in each swing just as in the life of a business or of an individual. At these junctures it seems as though a feather’s weight on either side would determine the immediate trend. Any one who can spot these points has much to win and little to lose.
- Richard Wyckof
DISCLAIMER:
This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experience.
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
Comment:
On daily time frame and relative swings
Trade closed: target reached:
First target done (inner pitchfork's upper parallel); now waiting for upper parallel of outer pitchfork.