in continuation to my last published chart, here is what all has happened since then.. now facing stiff resistance and in that zone , its worthwhile to see how it behaves. candles say there could be some southward journey while sentiments say time to go up yet again.. we will see
A point where i can look for bear trap is 216-17 ! if a clear breakout then we are heading higher but less chance. the megaphone (small) could still insist of touching lower end of the channel after this good run. this is simple and clear !!
Amazing. this is by far of the best looking chart , not because i had drawn this , but cause it is !!!! multiple ways of drawing the sloping diagonal line , i would have liked 3 and 1 in that order and yellow line (2) is something i wouldnt have liked yet people will draw all sorts ! The last big candle was actually on lesser volume than i had expected ! will we ...
this looks good. with double bottom in place and diagonal line breakout , its on rising line having immediate resistance zone around black line! slowly it will inch higher, if i initiate the position , i will go long. it has smaller patterns but i choose to not put it up here. they arent as clinical as they should have been.
Such a crucial moment. Almost, almost on the verge of major breakdown , where it can head towards lower levels . pink lines could be the ones where some fall could be arrested !! next week or 2 we will see whether we get a bear trap !! there is one more thing which i have left for viewers to figure out !! ll be mostly short though confirmation is must to be seen !!
Minor changes from what i posted last, but overall trend on course. levels to be seen are 94, 102/5 , 115. on the verge , such movements are often positive , although we need to see how it will behave with crude prices stabilizing/rising.
Couple of months ago i said of this potential hns , where right shoulder would be made around 10950. i am still waiting for that weekly close above these levels. if crosses if we have 2 black lines, where 11200 could be a bigger shoulder and all time high as potential double top. although many stocks are still giving bullish signs, its imp to keep a tab !!!
Obviously this will negated if it doesnt take over 3 points of resistance it will get on it way to completion of wave 3. but looks as if this could be a good buy ! i will also post another way of looking at things. ultimately they both should mean the same ..
PS : I am not an EWT expert , and do not use it much in my analysis.
does it want to come first if in a race ! above psychological mark of 600, it can smoothly ride towards 6650-660 range. rock bottom support around green lines , but the way market is moving it might not retest such low level from current. on my watch list..