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TFC Commodity Trading Forum

Re: KC... *PIC*
In Response To: KC... *PIC* ()

Previous post from 5-august had only the black down trend line on it. Price having broken the downtrend line, suggestion eluding to up move was made.

One should have expected a test of the breakout above the downtrend line. If you'll notice, it did that except it broke the downtrend line a little more than one should consider a line as a hold. In other words it broke below it by to much to be of value.

I went back and placed the blue downtrend line in. The blue line is a certified, bonafied, qualified geometric down 2 price units in one time units line.

A measured line versus a "fitted" line. There is an inverse relationship between the number of trendlines on a chart and their value.

Anyway, that it had broken the downtrending line in original post was reason enough to expect a follow through move. One should expect there to be a test because most all the time there is and so it was.

Messages In This Thread

KC... *PIC*
Re: KC... *PIC*
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Re: KC...Update *PIC*
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