Perfect Chartology
Rambus often talks about the rising wedge in a bull market
In strong markets the consolidations slope UP in the direction of the move.
Classical TA teaches Rising wedges are bearish.
A Post from Rambus Timeless Tutorials.( Members should review these tutorials )
https://rambus1.com/2012/12/31/wedges/
Truth is any pattern can break any way BUT
Most (70% or so) are continuations…as is this one…even number of reversals followed by a breakout gap
= Bullish continuation pattern
A thing of beauty
Those who take the initiative to learn these Chartology Principles have improved their trading skills exponentially
Sir Marty for Example: ( and Sir Niss)
Since joining Rambus Chartology approx. 2 years ago my trading account has certainly been going in the right direction. I want to thank everyone here with a special mention for Rambus, Fully and Plunger.
I checked the exact figures in the portfolio report and it is up 313.4% in 2 yrs.
I have mentioned it in the past but for me getting a subscription here was game changing and I´m very grateful for that.
Thanks everyone ?
ps. I should also mention the 2 yrs prior to subscribing I lost money.
Sir Marty
1.Ditto that Sir Marty, my last 2 yrs kinda parallels yours.
The subscription to Rambus Chartology is my best investment ever!
Niss2
Totally agree. Best investment ever !
Not to argue with your thesis Fully, but I believe there is also a pattern called a throwover that often happens at the terminal phase 0f a rising wedge. There is a small chance we could be experiencing that pattern right now. If so, the bearish wedge might still be in play.
Just a thought.
Thanks Jim…that’s always a possibility…but this was a pretty convincing breakout…so the onus is on the Bears to beat it down.
Agreed. Doesn’t seem likely. But with the coming events predicted for Monday (Mueller arrests), you never know. Could Monday be called the Mueller break (similar to 29’s Babson’s break)???