I have dissected the price action behaviour into two boxes as shown as Box of Tricks 1 and Box of Tricks 2. Why ?
When the previously posted PnF chart Price Target met, it alerted me to a potential end of the down move. No different than that of A2M chart!
Now, If one studies the first box(Box of Tricks 1), break below the support and continuation of the down trend is on display. Same can also be said to 2nd box as of this writing. But, the climactic volume action behaviour, shown with the bar marked with at High @ $13.90 is a standout, forcing me to closely look at APX.
Another price breakdown and a continuation lower is so far on hand at the 2nd Box of Tricks. This will remain true as long as a bullish price reversal absent. What I mean is that, at genuine breakdowns and breakouts, price may and does test those levels and validates the level as we have seen with the first box.
What if we see a Bullish short term reversal(Pivot Point) in the next week or two ? What would the short seller is likely to do ?
I have marked an anticipated bullish pivot point shown in the Blue box which is likely to occur and potentially test the high of the climax bar @ $13.90.
Yes, lots of ifs and buts, but isn't what this game (TA) is about ?
This observation and analysis is for educational purposes only.
When the previously posted PnF chart Price Target met, it alerted me to a potential end of the down move. No different than that of A2M chart!
Now, If one studies the first box(Box of Tricks 1), break below the support and continuation of the down trend is on display. Same can also be said to 2nd box as of this writing. But, the climactic volume action behaviour, shown with the bar marked with at High @ $13.90 is a standout, forcing me to closely look at APX.
Another price breakdown and a continuation lower is so far on hand at the 2nd Box of Tricks. This will remain true as long as a bullish price reversal absent. What I mean is that, at genuine breakdowns and breakouts, price may and does test those levels and validates the level as we have seen with the first box.
What if we see a Bullish short term reversal(Pivot Point) in the next week or two ? What would the short seller is likely to do ?
I have marked an anticipated bullish pivot point shown in the Blue box which is likely to occur and potentially test the high of the climax bar @ $13.90.
Yes, lots of ifs and buts, but isn't what this game (TA) is about ?
This observation and analysis is for educational purposes only.