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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (56349)	2/8/2020 12:06:56 AM
From: Doug R	Respond to of 79382

Just recently, as well, IQ did it, SPX did it...it's a reasonably dependable thing. HIMX's gap over a target line on 3 dRSI trick post-signal day 4 on Wed. made the line extra useful as confirmation of the post-signal day 4 being a bit too much for the supply/demand dynamic...so...a sell. It even allowed for Thu. to make a decision to sell. Knowing it was weak resistance based on prior activity surrounding it showed the gap on day 4 was possible when considering strength in the indicators' profiles. Being a target line that it gapped over, the likelihood of a good % one day move was increased. Like skeet shooting....easy stuff...;-) CALA was threatening to gap over the MDTL, which has equal immediate % significance on gap-over as a target line with the longer term prospects to boot. Ya gotta love a good line. Aaaaaand MEET has that channel established now. 2 good lines. Anywhere in the channel now is just fine. There's room for a "pullback" in there. Any time it finds itself at the bottom of the channel an add and/or trading position can be considered. The bottom is also a handy stop in regard to any long-term position held since no pattern is ever 100%. But the channel is nice to see now. A return to alltime high should entail an acceleration of the channel at some point as these things get parabolic when they succeed. The recently established 2nd anchor for the lower channel line will likely be the first anchor for the acceleration if MEET remains a well-behaved MIMBO.