Following the Wyckoff logic: Sasol has been under accumulation with bids coming in at 36000. Volume has been declined since 2017 showing the stock has moved to strong hands and the markup has started. Will wait for a backup to the trading range which would label the market to be in Phase D or pullback in which would indicate we are already in Phase E. But semantics aside the markup is starting and it would be good to find a good place to enter to ride the trend to the highs or even new highs.
ความคิดเห็น:
Still waiting for a good place to get in. On the daily TF we see some type of climatic action with high volume and a rejection candle close to overbought conditions. Will wait for price become oversold at the bottom of the stride.
ความคิดเห็น:
After the climatic type action there has been a strong pullback. Watching for a potential pullback to the trading range.
ความคิดเห็น:
SOL found support at the Monthly Pivot Point with a pin bar. With a break of the pullback downtrend we could see price continue to previous highs.
ความคิดเห็น:
The potential break up did not materialize last week instead the upward stride has been broken on large volume. This aggressive break of the trend could be a backup to the trading range and will look for support to at least around 480. There are also some volume clusters around 500.
