Am I doing this right? I marked the bases in yellow; where it cracked the base with an arrow and where it come back up past the base in pink. There's one where it doesn't rise back up past the base. What's going on there? or am I reading this wrong?
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Hey great job including a picture, so i can really see what your thinking, and asking.. So your bases are pretty good.. except you have to listen to what those bases are telling you.. How strong of a bounce happened at the previous base, tells you how interested the buyers are at that price, and how much of a surprise a crack will be.. (big surprise, big panic) and what you want to buy is a panic drop.. heres the same chart.. but the arrows are at bases that are not very strong, so you wont get a big panic and you wont get a good bounce..
So I wouldnt draw in the base if the last bounce wasnt strong.. i hope this helps.. and the last bounce is a question mark, because it was a little stronger but still not great, and I just dont see the panic,, we need a real drop.. this is grinding down here and giving small drops and small bounces
Thanks Luc! This is helpful. We'll see how it goes!