That looks a little better.
Remember what I said about the previous one you said for me to look at. Wait for it to turn. So this is what a turn looks like. There is a long term trend line running down the chart and you can see the point towards the end where the price action moves above the trend line. The price then hits a level of resistance which puts the top of rounding out phases out there, and then another trendline is established. This forms the trading channel of our rounding out phase. It acts as a large area of consolidation where the price continues flat for a good period of time.
This is the part that sounds like financial advise, but its not, its me making an opinion in order to further the conversation. If you want to trade off of that what you need to look for is first of all, a cross of the 20MA as you have pointed out. Notice how the price action has crossed the 200 in the past and while it has allowed the price to spike up, it only ever went as far as the trend line. Now if there is a cross of the 200 it would be expected that it goes as far as the upper resistance line that has been set. If that resistance line is breached then its potentially go time. In the process of looking for a bit more info for this post I found that this is actually called a 1-2-3 trend change from a guy called Victor Sperandeo in his book Methods of a Wall Street Master. What I love most about this game is that there are so many books and free references that you don't need to waste your time and money going to school learning this stuff.
So things that would indicate that the trend change is one? Well that would be a change in the volume characteristics, crosses of moving averages, and that lower trend line never being crossed. If it does get crossed, expect the trading to flatten out for a bit longer.
I like this one by the way, mind if I steal it?
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