Sometimes it's funny that depending on when you draw things you
can get a slightly different interpretation. This view was
drawn much earlier this year and price broke to support shown and
this then would appear to be a retest. In reality, I think we
are really just chopping above support and until it is broken or
left we are still consolidating with no clear direction.
Just interesting to note.
puma - honestly I could put both a bull and bear count on that
triangle depending on where I put A. Therefore I'm just going
to let it break the triangle and let it show its hand.
SSEC Shanghai Index
Posted by matt on 14th of Jul 2011 at 11:08 am
$SSEC- massive weekly triangle forming
Same chart. drawn earlier
Posted by johnc on 14th of Jul 2011 at 11:39 am
Sometimes it's funny that depending on when you draw things you can get a slightly different interpretation. This view was drawn much earlier this year and price broke to support shown and this then would appear to be a retest. In reality, I think we are really just chopping above support and until it is broken or left we are still consolidating with no clear direction. Just interesting to note.
For what its worth, much
Posted by oops1e on 14th of Jul 2011 at 11:17 am
For what its worth, much different perspective if you don't use a log chart.
Matt -- how are you counting it?
Posted by puma on 14th of Jul 2011 at 11:12 am
Obviously the way this breaks is a BIG deal. But it's kind of weird one to count -- do you interpret the last touch as D or E?
puma - honestly I could
Posted by matt on 14th of Jul 2011 at 11:59 am
puma - honestly I could put both a bull and bear count on that triangle depending on where I put A. Therefore I'm just going to let it break the triangle and let it show its hand.
You know Matt, that's what
Posted by puma on 14th of Jul 2011 at 01:25 pm
You know Matt, that's what I was thinking -- but you're a better wave counter than me! Thanks.
The big question: where do
Posted by kalinm on 14th of Jul 2011 at 11:10 am
The big question: where do you mark the A wave? Also, if this measures down, what is the target.... looks negative?