The 56 Point TA; Charts With an Attitude Message Board

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

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To: Doug R who wrote (75907)	12/22/2024 5:13:56 PM
From: Magnatizer	1 Recommendation Recommended By Doug R of 79297

Fair warning. My heads swimming a bit as I'm riding out influenza A and perhaps a little herbal medicine to support healing. I'll knock them all out but I was so fascinated by RGTI I have spent some time here. Thought I might as well overload the charts for it. Daily: broad view tradingview.com Key players. The two cross horizontals, call the first one A (1.97 - 2.11) and the second B (3.90 to 4.20) A had a sideways test immediately on formation in 22, then was the core of a sideways pattern in 23 and again held overhead resistance early in 24. The recent moved GAPPED the horizontal and returned to sniff 2.11 before resuming it's uptrend. Those type of power moves are a good sign for that zone being done and acceration to begin. I do not consider it in play now, just noting it as it was textbook for the system B is my target for entry on RGTI. After it's initial formation (july 22) there was quite a bit of chop immediately following, ultimately losing grip and not returning until a few weeks ago. My problem here was it didn't gap nor did it retest this area. Close up view tradingview.com Uptrends Most current: if this one is lost I'll monitor for the B channel entry. RGTI tried to pull away mid week but was pulled back pretty strongly by the bears. The bulls then showed up at the uptrend support and defended well. Now in a neutral area. the next most current formed Feb-March 24. It was the uptrend channel RGTI tried to climb at that point. Once it was lost pullback/base through mid 24 started tradingview.com On the move last week RGTI sniffed the top of this uptrend zone before retreating. Not touching the top was a good sign for the bears. it will be significant next time it's tested. tradingview.com The oldest of the significant uptrends formed June - July 23. Multiple attempts to break both ways from it. Ultimately it was lost, followed by one of the long channel tests on A then dropping into the base formation tradingview.com Short term, the focus is on the most current uptrend. If RGTI breaks north of it I'd have a 15ish target which is the top of the oldest of the significant uptrend channels. If it breaks south of it I'd be looking at horizontal B cross channel for an entry. The way this one moves I'd start the long position when it sniffs the upper part of that channel, 4.30ish area.

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