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| Courtesy of @Callum_Thomas |
One reason for posting this updated chart dated September 23,2015, last posted on September 17,2015, is because a certain short term indicator gave a signal after the market closed today. Data for this signal has been collected since January 2009. Since then there were 3 other times this signal has happened during a similar price pattern. Those dates were 6/25/10, 9/9/11 & 9/22/11. The 6/25/10 signal was within the price pattern above, hence the reason for the chart.
The following charts show the price action after each the the above mentioned dates.
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| June 25, 2010 - Courtesy of Worden Bros. |
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| September 9,2011 - Courtesy of Worden Bros. |
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| September 22,2011 - Courtesy of Worden Bros. |
In each of the three dates and only three examples, the price action did fall further before starting to rally. So, an attempt to test the August low is "possible" based on the above past examples. A break of that low is possible but not necessary.
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This
has been posted for Educational Purposes Only. Do your own work and
consult with Professionals before making any investment decisions.
Past performance is not indicative of future results
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