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can anyone see what potentially is brewing on the short time frame Top 40?

Reply
Not applicable
not in any way confirmed yet but its going to be interesting to see what happens...
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35 REPLIES 35
Electrox
Super Contributor
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Not applicable
Come on C puleeease enlighten! Need some insight and potential direction here.
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_nova
Super Contributor
that pattern looks like an ECG gone wrong!
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saash
Super Contributor
H & S? Another nose-dive setting itself up. Rally early am, sell off early pm. Bad news later. More sell-off next week ??? I dunno, waiting for this thing to start turning - time is drawing near.
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Ameesh
Contributor
My guess is that we go down first, then up...
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asylum
Super Contributor
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_nova
Super Contributor
nah, the third one is too low and tops are much more reliable on daily charts.
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asylum
Super Contributor
chartist would you have already set youre short order for the gap play and where would you set that around 18740? or would you wait before placing your order. thanks
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Salv
Frequent Contributor
Chartist please explain ? would be interested in what u have observed?
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platsak
Super Contributor
Courtesy SBK tech analysis: Trending sideways: The TOP40 Index has clawed back losses following a 650 points drop on Monday. However, it has encountered resistance at 18,670, and if it closes below this level today, downside to the 17,183 support level would be possible. A further pull-back to the 15,850 significant base could happen thereafter. Alternative scenario: If support is maintained at 17,183, then the trading range would change from 15,850 - 20,600 to 17,183 - 20,600 - which would be a bullish sign. A positive breakout would be possible thereafter. Movement above 20,600 would even inspire upside to the 26,320 targeted resistance level. Lets watch that 18670 level.
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_nova
Super Contributor
Looks like perfect W bottoms on both the FTSE and DAX 5min cash charts?
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Rovert
Super Contributor
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Not applicable
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Not applicable
ja, but you are only looking at a 20pt trading range. This market is clearly waiting. I think we are sitting on a wound up spring here
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gamma_spike
Frequent Contributor
trending sideways....... chartists are bonkers..... it may go up or down but perhaps not in that order..... buy deleveraged.....
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john_1
Super Contributor
well there is a rather messy inverse H&S on the FTSE and a rising wedge on the JSE. What is it you think is happening.. as this is rather boring.
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Brazen
Super Contributor
Wow C! You're right. Unbelievable. Amazing. I feel really sorry for all of those who can't see what you mean. REALLY sorry.
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Shard
Super Contributor
Chartist, sometimes I honestly think you throw and ambiguous bone out to watch people squabble over it. That said is there was/is anything happening its to obscure for me to see.
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Shard
Super Contributor
lol, atleast someone knows how to play the game
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