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Friday, 27 January 2017

Ali Baba uptrend defined

The pink trend lines are my original depiction of the uptrend.

The green arrow shows my original prediction of an upswing.

The pink oval area shows how the graph dropped further than I envisaged, with the consequent redrawing of the trend lines (blue) and the blue arrow showing my revised prediction of the upswing.

The graph bounced off my blue Resistance Line and is fairly likely to swing down and up following the red arrow.

The trend is upwards anyway. There is a possibility that the graph will not go all the way down to the blue Support Line, but resume the original steeper upslope. Hesitant for the moment, my long-term view is long.

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