Gann Box
A Potential Corrective 4This is a try at oil's recovery count. The 4th corrective leg seems likely at this point.
Healthy consolidation for ZYNEIt would seem that ZYNE got a bit ahead of itself. We were very extended on 26, 29 and 30 April, and finally saw some healthy consolidation with an initial 5% pull back. SPY was making ripples yesterday, and probably added much to panic reaction, more than 20% down. I bought that dip with much gratitude, and relished when buying pressure forced her back up to $11.40.
If we assume that the recent high of $13.06 marks the end of this cycle, we'll probably see some lower highs and lower lows/higher lows, leading the price back to the 45 degree line, most likely keeping the range roughly between $10 and $12 for now. On the other hand, if bulls break the $13 price resistance, we'll see another leg up. Perhaps that is why we always say "levels on watch".
I expect the 45 degree trend line to be strong, as it has been 'touched' 3 times. Keep in mind that ZYNE is only just starting on its rebound journey upward. If you think you've missed it, I think you're wrong. I think the entry is now, with targets of $15 within weeks, and $25 and $36 within the next 6 to 8 months. What we're hoping to see from ZYNE, is a great Phase 3 trial results, and for the broader market, the legalisation of CBD as an additive, etc. so that Zynerba can start marketing its wide range of unique patents.
When that bit is behind us, CBD legalisation in the European Union is next. Also for GWPH, btw.
Safe trading, everybody!
TMD - good buy yet?I was asked to have a first impressions view of TMD. This is my unrehearsed ramblings of my process. It's always to look at the data and argue the case for both bullish and bearish cases. Feel free to comment on you opinions of TMD as well. Like it or dislike it???
NMX - bottom?NMX is showing signs of finally nearing a bottom. expect more sideways action with some attempted swing trading. but the bear market is not over yet
ZyneZyne continues to grow doing well and above the 200EMA. be ready for dips as you layer in to keep you positions.
Gann's Garden of EdenGann said the bible was the greatest book he ever read. He also said read it 3 times and truth would be revealed to you. But, it's not what you think... It was about math and cycles.
How to set up the GannBox I'm usingA brief video to illistrate how to customise your gann box settings
BTC LongTux says plain as the beak on your face. Are you ready for the next run, or are you gonna say, "i should've , again..."
KAT - is she landing on her feet?KAT - is she landing on her feet? Watch for more bullish news from the universe coming soon...
Gann Box and MACD AnalysisTSX:PEY appeared on my screener for a MACD crossover play. I applied Gann box and it looks like we are coming up on a critical point with the potential for the move upwards.
I have shown the 48 Day periods which is part of Gann's 192-day cycle to see if there are any points of reversals and it lines up pretty nicely. It appears that we just passed a 48 Day point and have consolidated until we reach that critical angle. We have reached the 15-Day mark after the spring equinox which Gann identifies as an important date to look for.
Looking at the chart above we can see that it's primed for a breakout based on the following reasons:
We are not only at the 52-Week Low but it also just peaked out of the Wave Trend "Buy" zone;
ADX value of 25 confirms the trend is strong;
Stoch and RSI are both low enough to still jump in the trend;
MACD crossover confirms entry.
What are your thoughts?
