That last bar is an unconfirmed test (upbar to follow for confirmation)
I see some support or accumulation at the previous lows (Jan '15), then a nice up trend.
The gap up in August was a gap over longer term resistance (stale supply), and then the pullback and sideways action, which did not see any follow through on the downbars was promising. However any gap up and pull back raises a concern of supply coming in or distribution of some sort.
But then the recent higher high reduces the chance of ongoing supply, and raises the probabilities for a continuing trend higher.
So now to see what the response to the test is........
cheers
- Forums
- General
- Wyckoff trading method
Wyckoff trading method, page-1081
-
- There are more pages in this discussion • 1,378 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Andy Udell, CCO
Andy Udell
CCO
SPONSORED BY The Market Online