Technically a measured move – large up day, doji pause, and then same again, but really…?
A huge recent move up that must be playing havoc with many institutional traders (and leaving many others behind) because it is so far beyond expectations that alarm bells must be sounding across both sides of the fence. Expect more volatile days ahead for those reasons alone.
This recent activity reinforces the need for a price based system like trading the line, how else can one accommodate such extraordinarly behaviour in the markets? Still on a Buy Signal (since 2583) but the stop is a long way behind. Be sure to lock in profits as we continue in the days to come.
Be prepared for whatever is coming next, and trade with confidence:
To receive detailed daily analysis, guidance and the updated daily Buy / Sell trigger levels being generated by the Trading the Line system before the market opens, and intraday alerts when appropriate, please become a Member and Sign up for Alerts & Observations – includes access to Members Area and the Explanatory Notes for all of the concepts discussed.
Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.