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IF it breaks the channel. If not, the RSI divergence just might be a signalling a pullback within the bigger channel to around $800. Or if the small channel does break, the move, might be stopped by the upper band of the big channel. The decision to pull the trigger or not will depend on your investment time frame.

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Thats a good example of how two people can read the same chart differently.

I see monthly XJO struggling at 50% retracement, many here will say Gann and Fibonacci are rubbish. But different views is what makes the markets move, without them there would not be a market.

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On TLS monthly I see strong resistance at the psychological $5 which just happens to be near a Fibb level, and an overbought RSI (for the first time in over 13 years). Doesnt mean it would kill the current trend though. There are so many ways to view the data and as sure as night follows day there will be both buyers and sellers next week, each with their own view.

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My 2c advice, learn to read charts, use a time frame that suits your objectives and use them to supplement your fundamental views.

<blockquote data-quote="beachlife" data-source="post: 775506" data-attributes="member: 19699">IF it breaks the channel.&nbsp; If not, the RSI divergence just might be a signalling a pullback within the bigger channel to around $800.&nbsp; Or if the small channel does break, the move, might be stopped by the upper band of the big channel.&nbsp; The decision to pull the trigger or not will depend on your investment time frame.[ATTACH]52531[/ATTACH]Thats a good example of how two people can read the same chart differently.&nbsp; I see monthly XJO struggling at 50% retracement, many here will say Gann and Fibonacci are rubbish.&nbsp; But different views is what makes the markets move, without them there would not be a market.[ATTACH]52532[/ATTACH]On TLS monthly I see strong resistance at the psychological $5 which just happens to be near a Fibb level, and an overbought RSI (for the first time in over 13 years). Doesnt mean it would kill the current trend though.&nbsp; There are so many ways to view the data and as sure as night follows day there will be both buyers and sellers next week, each with their own view.[ATTACH]52534[/ATTACH]My 2c advice, learn to read charts, use a time frame that suits your objectives and use them to supplement your fundamental views.</blockquote>

[QUOTE="beachlife, post: 775506, member: 19699"] [U][/U][B]IF [/B]it breaks the channel. If not, the RSI divergence just might be a signalling a pullback within the bigger channel to around $800. Or if the small channel does break, the move, might be stopped by the upper band of the big channel. The decision to pull the trigger or not will depend on your investment time frame. [ATTACH]52531.vB[/ATTACH] Thats a good example of how two people can read the same chart differently. I see monthly XJO struggling at 50% retracement, many here will say Gann and Fibonacci are rubbish. But different views is what makes the markets move, without them there would not be a market. [ATTACH]52532.vB[/ATTACH] On TLS monthly I see strong resistance at the psychological $5 which just happens to be near a Fibb level, and an overbought RSI (for the first time in over 13 years). Doesnt mean it would kill the current trend though. There are so many ways to view the data and as sure as night follows day there will be both buyers and sellers next week, each with their own view. [ATTACH]52534.vB[/ATTACH] My 2c advice, learn to read charts, use a time frame that suits your objectives and use them to supplement your fundamental views. [/QUOTE]

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