And is forming a handle. I should say support but looks like a handle low and the handle appears to be in a rectangle.
I just started playing with the volume profile thingy. This one caught my interest after looking at several stocks using this indicator..I may use it when unsure from now on..just take a peek at it and see where volume is.
This stock was punished severely after breaking the bottom trendline of the bearish rising and narrowing wedge it traveled in for quite sometime.
MCD broke bottom trendline of the rising wedge ..it appears to be recovering/average fall for a stronger stock is 35%/some merely pierce the bottom trendline of the RW and move forward. Some never break down from the RW pattern and some actually break up from it/IE CRM..but the break up is usually not a healthy one and does not hold long term.
And RWs can be very long term patterns.
RWs are usually bearish and usually have a lack of sufficient pull backs causing an inbalance in supply and demand. Rising wedges are formed due to irrational exuberance and can cause havoc when bottom trendline is broken..or price may make a quick drop out and resume it's uptrend. Or it may not drop out (This does not happen often from what I have seen)
I have noticed a lot of RWs since the mkt caught the flu.
I have also noticed a stock in a RW may beat earnings , yet go down anyway. This is one I would consider, am watching, to buy before long entry level and closer to the support of the handle low. That is a No NO, this I know..lol..but I do not think McDonalds is going anywhere so I may break one of my trading rules. I may be sorry. Ti,e will tell and I have not done it yet! LOL
MCD is also trading in a small Gartley which puts D at 206ish..but has been to D, and did not go below this time around. D held
Little green triangles are pivot lows..
NV and OBV are high
Just an observation
I just started playing with the volume profile thingy. This one caught my interest after looking at several stocks using this indicator..I may use it when unsure from now on..just take a peek at it and see where volume is.
This stock was punished severely after breaking the bottom trendline of the bearish rising and narrowing wedge it traveled in for quite sometime.
MCD broke bottom trendline of the rising wedge ..it appears to be recovering/average fall for a stronger stock is 35%/some merely pierce the bottom trendline of the RW and move forward. Some never break down from the RW pattern and some actually break up from it/IE CRM..but the break up is usually not a healthy one and does not hold long term.
And RWs can be very long term patterns.
RWs are usually bearish and usually have a lack of sufficient pull backs causing an inbalance in supply and demand. Rising wedges are formed due to irrational exuberance and can cause havoc when bottom trendline is broken..or price may make a quick drop out and resume it's uptrend. Or it may not drop out (This does not happen often from what I have seen)
I have noticed a lot of RWs since the mkt caught the flu.
I have also noticed a stock in a RW may beat earnings , yet go down anyway. This is one I would consider, am watching, to buy before long entry level and closer to the support of the handle low. That is a No NO, this I know..lol..but I do not think McDonalds is going anywhere so I may break one of my trading rules. I may be sorry. Ti,e will tell and I have not done it yet! LOL
MCD is also trading in a small Gartley which puts D at 206ish..but has been to D, and did not go below this time around. D held
Little green triangles are pivot lows..
NV and OBV are high
Just an observation
Note
This one is killing me! How low will she go? LOL Hopefully no further than the handle low )o:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.