VINC continuation play LONGHere on the 30-minute chart is my idea for the continuation of my VINC idea posted here before
the current breakout. Price is presently in a consolidation ascending regression channel .
The choices for a play are to wait for a break above or below the channel or alternatively
play the price action inside the channel. Since price is currently at the bottom of the channel
I will go long with a stop loss under the channel. Upon reaching the top of the channel I will
close half the position and then watch for a break of resistance or a rejection down and then
trade accordingly. Overall, I believe that this is a high-tight flap pattern and VINC is
accumulating gradually and will move higher when the accumulation saturates as per
Wychoff's theory.
