Esteban,
Yes, your line from 12/17 through 12/22 works well. Let's call it a SEEP, Somewhat-Early-Entrance-Point.
I insist, however that the MEEP works as well here, and is in fact right on target.
re: "I don't see a 12th top" Every day has a top or bottom. As far I'm concerned, violation of the MEEP is inconsequential if it continues to apply. Draw that line from the tops of the 10th and 12th again, and you'll see that, though it does cross one top on the way down, it continues to be in force, as one might expect from a day like 12/10, in which volume was huge.
As with anything, volume is always THE KEY. I won't overlook any line coming from a day like that, even if it's violated once or twice. If it continues to be felt three weeks later, it's more than likely THE FORCE acting upon price. If it is violated on a high-volume signal like the PGDCEB signal, that can only make the buy signal all the stronger.
But I rant.
ivan |
