The 56 Point TA; Charts With an Attitude Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Doug R who wrote (56195)	2/19/2020 9:48:25 PM
From: Doug R	Read Replies (1) of 79383

SSRM will be working on putting in that next Pegline anchor. Since the Dec/Jan highs didn't leave one, now it's up to Feb. or maybe March.....or April........ To put one on the chart, it has to go up. To leave it there properly, it needs to end a month as a wick. It's just a thing that's consistent across all charts. Trending tops leave a monthly wick -- A wick tall enough for the pegline to continue downward into the next month without hitting price activity during that next month. Said otherwise, if the next month's price cuts into a pegline penciled in on the previous month's high, even if that next month closes back below the pegline, the uptrend on a monthly basis is more than likely not over.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next