The key word of the last week has been whipsaw. This term is applied in trading circles when the price head’s in one direction, and then is quickly followed by a movement in the opposite direction.
852
The key word of the last week has been whipsaw. This term is applied in trading circles when the price head’s in one direction, and then is quickly followed by a movement in the opposite direction.
Well the signal came in super bullish fashion. One big candle on high volume pierced through the entire cloud and into bullish territory. As a rule, a piercing of the cloud is followed by some muddling around in the cloud testing support and resistance.