though I said "Ascending" it was a bit of a ruse.... the totality of this pattern is a Compressing Consolidating Wedge, it's hard to come up with a "Target"... other than Still that Green Trend line up top... "Feels good"... but there is nothing to say that we haven't seen the top already.. but I'd rather see the market lead.
Monday, April 27, 2009
chart of a thousand lines
though I said "Ascending" it was a bit of a ruse.... the totality of this pattern is a Compressing Consolidating Wedge, it's hard to come up with a "Target"... other than Still that Green Trend line up top... "Feels good"... but there is nothing to say that we haven't seen the top already.. but I'd rather see the market lead.
I'm liking the orange as the trend support, imho. Below that, I'll close longs and look at some shorts.
ReplyDeleteit may be worth a chance if the market can catch a bid at one of the trend lines... to watch for that bid... to break down... then taking a risk...
ReplyDeletebut it could catch a bid and ride it all the way to the close