Dnonce Trend Analysis:
Downtrend:
First the price trend went through a downturn creating a new low.
During this stage, MCDX is relatively low, below 25%.
It is a chips accumulation stage
First Wave:
Upon completion of accumulation, there was a first up where closing price breakout the neckline with volume, MCDX moved towards 50% level.
Completion of first wave up was followed by a consolidation-retrace, creating a higher low towards the end of retrace.
Second Wave:
Upon completion of consoldation-retrace, there was second wave up, breakout the neckline with volume.
During this stage, MCDX moved towards 75% level.
Third Wave:
Upon completion of retrace with lower volume, again, again there was breakout neckline with volume, with third wave up in progress.
At this stage, MCDX is higher than 75% moving towards 100%.
Disclaimer : This is purely a Technical Analysis study, no suggestion of buy/sell.
Downtrend:
First the price trend went through a downturn creating a new low.
During this stage, MCDX is relatively low, below 25%.
It is a chips accumulation stage
First Wave:
Upon completion of accumulation, there was a first up where closing price breakout the neckline with volume, MCDX moved towards 50% level.
Completion of first wave up was followed by a consolidation-retrace, creating a higher low towards the end of retrace.
Second Wave:
Upon completion of consoldation-retrace, there was second wave up, breakout the neckline with volume.
During this stage, MCDX moved towards 75% level.
Third Wave:
Upon completion of retrace with lower volume, again, again there was breakout neckline with volume, with third wave up in progress.
At this stage, MCDX is higher than 75% moving towards 100%.
Disclaimer : This is purely a Technical Analysis study, no suggestion of buy/sell.