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Mari

VFF Bull Continuation Possible Soon VFF has pulled back in two legs sideways to down after a strong bull rally. The bulls have a 60% chance of a second bull leg up before there is a strong bear reversal. Last week broke below the 14 first leg down. This is where the bears need to be the strongest. This is also where strong bulls (and bears) will start looking to buy for trend continuation. However there is not yet a strong buy setup. If this week closes on its high, it could signal the end of the correction and soon enter a bull channel phase for a second leg up. There are many bull gaps below, and the rally contained strong buying pressure. Furthermore, the sell off has not been all that strong. Last week was one of the strongest bear bars, and created a gap around 14. Since there are no previous open bear gaps, this one will likely be filled as well, and may act as an exhaustion gap. The bears need to keep the gap open and create strong follow through selling to increase their probability to 50% for a test of the bull breakout. To learn more about how to determine the directional probability and how to structure a trade based on this with a positive traders equation, please see below. If you found this helpful please like! Feel free to comment or ask questions.
VLong
by tradersmentality
CGC Two Sided TradingCGC is beginning to develop some two sided trading and transitioning into a broad bull channel / bull flag trading range. (All channels are a form of a slanted trading range and ultimately evolve into a large trading range). Prices are currently around the middle of the trading range, where the directional probability is close to 50/50. The high 2 buy setup a few weeks ago failed to get bull follow through. The bears want a test of the 28 low and a breakout below. The bulls want to keep the 28 breakout gap open as a sign of strength and create a higher low / large high 2. Prices will likely remain mostly sideways over the next several weeks or even months, as both sides fight for conviction and follow through in their direction. If you found this helpful please like and share! Feel free to comment or ask questions.
C
by tradersmentality