Expecting another VERTICAL breakout at edge of Gann fan

Apr 21, 2018

The chart looks much better at 1min resolution, but I can't publish anything lower than 15. Rather than expecting a retrace, since this consolidation has formed a bowl shape, there is strong buyer support for a breakout when we reach resistance at the top of the fan very soon.

Expecting vertical action... learning from misreading.

Apr 21, 2018

Note

8966 has a historical significance as support and resistance from 2017... We just tested it and broke through. Perhaps now we'll see vertical action? Or we'll build a base of support by bouncing around between that new top and the Gann fan from previous high...

Apr 21, 2018

Note

Buyers didn't take control, so we fell back in to the top Gann fan channel, tested support at 3/1 line and bounced back out. A new fan was drawn from the new high point.