Browse Stacks: Patterns: VIXD_2.png (768×575)

VIXD_2.png (768×575)

Comments

GonnabesickGonnabesick
Bounce at the gap? Or, breakdown from the wedge? We'll see . . . (I'm hoping for the bounce, meself.) 6/6/20
MyopiaMyopia
Here’s my problem with chart reading generally 
 
It can be interpreted several different ways. The price trend might be forming a down-sloping pennant; or a wedge. One is bearish. The other has bullish implications.  
 
If it’s a pennant, that suggests every willing buyer is being hit by too many willing sellers, who are under-offering each other, and buyers respond by lowering bids, which are relentlessly being hit. by too many sellers . Why? Do they know something that I don’t? Or, if the selling stops, its price will spring back (wedge formation). The first one should absolutely be avoided “to the long side”, as we used to say; the other (the wedge) means it should be played to the long side with a protective stop. But, which is it? 
 
Offhand, without some further analysis (very problematic in and of itself) I can’t make heads or tails out of this. 6/7/20
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