Any idea why the IPL shareprice has behaved like that GF ??
Sentiment must have been really bad for it to come crashing down so seriously.
Our market will probably attempt to rise today, but I'm not sure if it is strong enough to maintain much higher prices for very long though.....we'll see.....
So IPL may also attempt to rise along with the overall market.
In all that rambling above, what I was meant to be illustrating was how long it can take, from when climactic support initially comes in, to when a sustainable mark up begins again. It can take weeks and/or months to sort it all out........and it usually does........
and just a quick mention of the occasional 'V' shaped recoveries that we see from time to time. They usually occur when the climactic action is massively serious, almost always on really huge volume. In essence what has happened is that pretty much ALL of the supply is sold right at the bottom, so there is just about none left to mop up. In thoses cases, price can just rebound and start to move higher almost immediately (causing the infamous 'V' shaped bottom).
Good Idea, to consider trading it within the trading range, it can also be beneficial for a nimble trader, to identify the climactic bar, and buy near the lows, and sell the bounce (supply vacuum or as Wyckoff called it, an automatic reaction).
