frtaylor's question below brings up something that I review in
depth in my tutorials. That is finding objective bottom basing
patterns and what to look for vs catching a falling knife. Compare
the RAX and SBUX charts for what is objective and what is not at
this time. Notice how RAX has chopped around for a few weeks
allowing a base to develop and subsequently what happens with the
MA's and oscillators? In addition, look at the recent volume
patterns.
RAX Example of Base Bottom
Posted by steve on 6th of Aug 2012 at 03:19 pm
RAX - Chart Link
frtaylor's question below brings up something that I review in depth in my tutorials. That is finding objective bottom basing patterns and what to look for vs catching a falling knife. Compare the RAX and SBUX charts for what is objective and what is not at this time. Notice how RAX has chopped around for a few weeks allowing a base to develop and subsequently what happens with the MA's and oscillators? In addition, look at the recent volume patterns.
Nice! Thank you.
Posted by frtaylor on 6th of Aug 2012 at 03:38 pm
Nice! Thank you.