Please note I am not a financial expert & anything you see on this blog should not be taken as financial advice! In the
trading room yesterday, John taught us how to draw long term trend lines using parallel lines... and how past trendlines become valid in the current market. Using the techniques I learnt just yesterday, I was able to come up with the following bearish view of LGL. There was an LGL entry signal yesterday, I couldn't get in the trade coz my baby woke up right as the market was closing! So, entry signal was yesterday, but I think today's volume is good for entry too. Here's what I've come up with...
Weekly is looking very bearish, breaking past the parallel lines trending resistance... H&S... methinks ripe for a long term trade which I'll be considering today.
I'm factoring in the possibility that there could be a bit more upside to form a bigger right shoulder, but it's still going down IMO!
If you want to learn some of these "crystal ball" technical analysis techniques for yourself, then you can't do better than to check out the amazing
Planet Wealth Trading Room. It goes for just an hour a day and you can join up to live sessions or just get the pre-recorded sessions like I do.
