Double top forming..

Discussion in 'Trading' started by aaronk321, Jun 22, 2007.

  1. trading is more evolved, then that, in that past that formation may have led to rampant selling, but informational awareness, and market evolution has moved the large money pools from taking advantage of it from others blindly selling based on that technical formation.

    theres a double bottom, also in SPX, its 150 range. So price discovery based on the longer term trend will create a wedge.
  2. wedge
  3. Based on your chart it's a flag and this is a consolidation run hence we will continue with our advance to new highs.. WOOHOO...

  4. a wedge doesn't necessarily mean the breakout occurs to the upside, it means price will coil and money will recyle itself within that range. Since conflicting market dynamics swing the prices to the borders of the wedge.

    Basically the bid/offer is removed in the middle of the range, and price jumps to the otherside quickly.

    It buys time for a significant move.