Can our charts uncover the motives of the SMART MONEY with A2M ?
Notes for the analysis which is for educational purposes only.
What is the major trend ? Down & Strong.
What did the previously posted Point and Figure chart suggest with it's bearish target ? Possible end to the current major down trend at around $5.00 !
We will see the accuracy of the Point and Figure target over the weeks ahead. It is an estimate and a forecast.
Have we seen the MAJOR SELLING CLIMAX or is it just a PRELIMINARY SELLING CLIMAX ?
No, one knows this and I will not guess it. Time will tell (supportive of the MAJOR SELLING CLIMAX or otherwise).
Focus (compare price & volume behaviour) on Box of Tricks # 1 & 2 as they offer clues.
Compare volume at each down thrust after the gap down.
Check the volume at current congestion marked with Box of Tricks # 2 and compare it with the volume of Box of Tricks # 1.
Is the volume behaviour indicative of an accumulation or re-distribution by the SMART MONEY ?
Watch the resistance line of the larger down trending channel in order to recognize when the major down trend is at HALT/STOP. Violation of the resistance line will signal this.
Have fun !
What is the major trend ? Down & Strong.
What did the previously posted Point and Figure chart suggest with it's bearish target ? Possible end to the current major down trend at around $5.00 !
We will see the accuracy of the Point and Figure target over the weeks ahead. It is an estimate and a forecast.
Have we seen the MAJOR SELLING CLIMAX or is it just a PRELIMINARY SELLING CLIMAX ?
No, one knows this and I will not guess it. Time will tell (supportive of the MAJOR SELLING CLIMAX or otherwise).
Focus (compare price & volume behaviour) on Box of Tricks # 1 & 2 as they offer clues.
Compare volume at each down thrust after the gap down.
Check the volume at current congestion marked with Box of Tricks # 2 and compare it with the volume of Box of Tricks # 1.
Is the volume behaviour indicative of an accumulation or re-distribution by the SMART MONEY ?
Watch the resistance line of the larger down trending channel in order to recognize when the major down trend is at HALT/STOP. Violation of the resistance line will signal this.
Have fun !