A Bull's Wyckoffian Dream. Will it play out? or will it keep domping to hell?
I'm looking for a spring back to life along with the rest of the market. A lot of confluence (not all stated here). Good luck.
Weekly: -Completed 3-level step in the falling channel . -Double bottom; volume spike forming the second bottom. -Engulfing weekly. Daily: -Sound consolidation below the downsloping resistance, holding the engulfed weekly candle as a support. -No immediate rejection off the major channel resistance. At this rate, a voluminous break up above the major...
Long if all three conditions are met: - Break of the resistance with a high-volume candle (4H) - Pullback either to the neckline or the resistance - Long reaction following pullback (1-4H) Good luck.