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Re: POTENTIAL BREAKOUT Alerts
I agree there were no price break-outs in June - Aug. However there are three instances of strong demand (high volume up bars) and each time supply satisfied the demand quickly (price dropped). I think it reasonable that supply might still be present at these price levels reducing the probability of a successful break-out >0.50. I think a break-out above 0.65 has a better chance of success than a break-out above 0.50.
Buyers of RMS between Jun - Aug that did not sell have endured losses for six months. These holders will remember their past buy price and many will sell as the price returns to this level. I am sure that as an experienced market participant you will have noticed that price (current market sentiment) does encounter more supply at prior support levels and old highs. The period of time between these encounters can be days, weeks, months and years apart.
I agree there were no price break-outs in June - Aug. However there are three instances of strong demand (high volume up bars) and each time supply satisfied the demand quickly (price dropped). I think it reasonable that supply might still be present at these price levels reducing the probability of a successful break-out >0.50. I think a break-out above 0.65 has a better chance of success than a break-out above 0.50.
Buyers of RMS between Jun - Aug that did not sell have endured losses for six months. These holders will remember their past buy price and many will sell as the price returns to this level. I am sure that as an experienced market participant you will have noticed that price (current market sentiment) does encounter more supply at prior support levels and old highs. The period of time between these encounters can be days, weeks, months and years apart.