At the backlink I provided the model below. It basically said that TNX was nearly finished with 1 of 3 and that we should expect an a-b-c pullback to the level of the prior 4th around $21 before moving up again.
Below is the updated snapshot which is zoomed in a bit relative to the picture above. As you can see, the model is, so far, intact. If it continues to be correct we should see a rapid move up to higher highs this week. The stops level is perfectly clear here: anything below green 2 breaks the model and should be sold. This is a great trading setup because of the small loss one would take if the stop loss triggers.
Monday, May 18, 2015
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