I Do
I Don't
4.05 print early in trading to take out the 4.04 top from a few months back ( March 2015 )...
Could shorts be covering on the break....
Morning Denco. I don't have time to post the P&F High/Low, but I just wanted to announce that I think I finally figured it out. The light bulb turned on as I recalled my homework from last evening; When the market opened this morning, there was no LOW below the 3.92 so the next logic was to test whether or not there is a 3-box reversal called for, and when the answer was "yes", then we moved over to a column of X's beginning at 3.93 and printed all the way up to 4.05.......... Furtehrmore, if we continue to see higher prices today, those will also be printed at the top of the column of X's.................. Maybe that's a long way around the explanation, but I hope you can agree it at least sounds like I finally get the idea.....
EDIT: and while I was typing that stuff, above, the chart painted 4.07........ Looks like we'll enjoy a nice ride up to the cc tomorrow.
Last edited by siriusly_invested; 10-21-2015 at 09:42 AM.
Sound spot on to me SLY
SiriHiLo.jpg
Wow, not even 10am yet and we're already at 6Mil shares traded. Could be a heavy day of buying...........or also heavy volume of profit taking.
Shorts will be adding over 4.10, not covering. They will be adding all the way up to 4.24. Edit: you want a short squeeze, get it over 4.24 and watch the real volume come in.
They sell the exuberance, just like the longs who take profits. They buy (cover) at the same time longs are picking up discounted shares.