Low Base Set Up:
Since December 13th we've been selling off and the last 6 days we've been in a low base. It's had lower or equal volume and it traded below the consolidating low of about 378ish on the 22nd. Overall market sentiment is bearish with the 20 day looking to cross the 50 day
The candle on the 22nd of December was used as my entry point/trigger. The...
LOW BASE SET-UP:
AMD has been in a low base since about Dec 22nd and has been consolidating for more than 5 days with lower or equal volume. Overall market conditions are bearish, so downside is probable.
I was planning on using the Dec 28th candle as my entry point back then, but at that moment in time, it did not meet the 5 day consolidation requirement. So I...
Impressive day today with a strong close. As of last week, we were forming a low base pattern, signaling more down side to come. I was anticipating more selling to happen at the start of this week. And......Well..... Here we are blowing 3800 a kiss before tomorrow. However, last week, I did have in mind a cup and handle pattern forming before making its way lower....
Euro is showing continued weakness from yesterdays PMI news. Looking for the NZD to continue its possible turn higher. If this continues for both this could be a multi day move with plenty of time to scale into this position.
