looks like a "drooping shoulder " formation in the making. a little 50 cent move up and then.........bye ...bye.
Nice weekly fork on AEO. You can see that price is attracted to this median line as it has gravitated towards it on several attempts, and a nice test at the end. Also we have an ascending triangle pattern which is also bullish, but need to watch for this 20.00 resistance area.
NRG (daily) Not much I need to say here, just look at the fork. Also included a tl and two s/r levels. Lets see if price respects this upper fork line for the 1st time.
Great test on the median line here for LMT. Actually had two test where we hit the line, but were able to close much higher on the price bar. This fork has now been tested, and is ripe for a trade. My EST (entry, stop, target) is marked.
A good example of action- reaction lines, showing that even though the original fork lines were broken, the price moved in an opposite, but EQUAL distance of movement, which has been tested multiple times. These lines will run for infinity and should bear some importance.
Closed out 1/2 my MDC for + 2,102.50 with stops at b/e. Also picked up some LMT at 83.3 with stops at 81.48.
I had a feeling I should've picked up some AMZN when I had the chance, but at the time I was worried that we were topped out in the dow and wasnt very bullish at the time...oh well.