Strong bearish divergence on the Daily RSI suggests Phase C is next.
Confirmation of Accumulation Setup:
ZigZag down
Immediate Spring, followed by a Higher low
Aggressive show of strength up to confirm Phase D
Phase Descriptions:
Phase A: Markdown/End of Initial Downtrend
Phase B: Building a Case. Building the thesis of whether we are entering further upside or downside. (Accumulation vs Redistribution)
Phase C: Final Test
Phase D: Buyers Dominance
Phase E: Acceptance
Definitions:
PS: Preliminary Support
SC: Selling Climax
ST: Secondary Test
AR: Automatic Rally
LPS: Last Point of Support
SOS: Show of Strength, sometimes referred to as BU (Back-Up)
Confirmation of Accumulation Setup:
ZigZag down
Immediate Spring, followed by a Higher low
Aggressive show of strength up to confirm Phase D
Phase Descriptions:
Phase A: Markdown/End of Initial Downtrend
Phase B: Building a Case. Building the thesis of whether we are entering further upside or downside. (Accumulation vs Redistribution)
Phase C: Final Test
Phase D: Buyers Dominance
Phase E: Acceptance
Definitions:
PS: Preliminary Support
SC: Selling Climax
ST: Secondary Test
AR: Automatic Rally
LPS: Last Point of Support
SOS: Show of Strength, sometimes referred to as BU (Back-Up)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.