December 17, 2011

  • Price Moving down towards the base of the triangle in daily time frame.
  • Week candle closed above 100 Week SMA. If 100 Week SMA is protected by bulls we may see an up move.
  • Price closing above 50 Day SMA will give an up move towards the resistance line of the triangle pattern or the 200 Day SMA.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore