Lucky,
You may be an excellent scalper and, have a good feel for the market, but when it comes to TA, you should really learn the lingo. A top is only a top if the down trend is broken. ABTX continues to make breakaway gaps and new highs...definitely not topping action: quite the contrary. Increased volume on a breakout or a "gap up" is confirmation of bullish activity. As a matter of fact, it is a move up on light volume, that is sometimes a warning of a pullback. In addition, when breaking out into previously unchartered new historical highs, there is no resistence. While there is always buying and selling going on at all different prices, there is no reason to expect a heavy layer of sell orders at 16. So, while you may be a good trader, or just... Lucky, your stated reasons are wrong, even if your trade is a winner. I am only critical of your terminology on TA.
glen |
