Lumber (Cash)Long
Any Friend of the Trend is a Friend Indeed
Updated
Hey Traders 👋
As i search for a way to share my next trade I stumbled onto lumber (cash) and look at what just showed up a few weeks back my fellow speculators......... I'll leave it on the chart, allow you guys to do some researching and searching, (RE indicators) 😉
I must use this chart as I can't share my personal chart LBS1! but it is really the same difference. I just don't have to hide my charting techniques and fibonacci retracements, channels & drawings.
First, a series of lower lows starting in late January, culminating in a bottom near $450 in mid-2021. Then notice that prices formed a hammer candlestick and bounced at $653.7, followed by another gain on Q4. That suggests lumber has established a higher low – the first step toward potentially resuming its uptrend. It could also be consistent with resolving a bullish move to the upside.
Second, the March and May bounces occurred at this very important indicator that began in the last month. (In white on the chart)
Interestingly, this line closely tracks price action giving it even more significance.
Third, stochastics, rsi, & macd have dipped into an oversold condition. Lbs bounced under similar conditions (for example, late September or early October).
Spx es1! nq1! dxy btcusd btc1!
Please check out my modus operandi, my magnum opus, my war and peace. My chef-d'oeuvre masterpiece, my great work. My, soon to be, crowning achievement. My piece-de-resistance. You will find it linked below. Have a look, have a cigar, leave a like. Leave a trademark TradingView troll comment. It's a guide to the spx. 😉 Editor's choice in the making 😉.
Comments????
Something Something encouraging and insightful? Let's master the markets together. The master and margarita.
As i search for a way to share my next trade I stumbled onto lumber (cash) and look at what just showed up a few weeks back my fellow speculators......... I'll leave it on the chart, allow you guys to do some researching and searching, (RE indicators) 😉
I must use this chart as I can't share my personal chart LBS1! but it is really the same difference. I just don't have to hide my charting techniques and fibonacci retracements, channels & drawings.
First, a series of lower lows starting in late January, culminating in a bottom near $450 in mid-2021. Then notice that prices formed a hammer candlestick and bounced at $653.7, followed by another gain on Q4. That suggests lumber has established a higher low – the first step toward potentially resuming its uptrend. It could also be consistent with resolving a bullish move to the upside.
Second, the March and May bounces occurred at this very important indicator that began in the last month. (In white on the chart)
Interestingly, this line closely tracks price action giving it even more significance.
Third, stochastics, rsi, & macd have dipped into an oversold condition. Lbs bounced under similar conditions (for example, late September or early October).
Spx es1! nq1! dxy btcusd btc1!
Please check out my modus operandi, my magnum opus, my war and peace. My chef-d'oeuvre masterpiece, my great work. My, soon to be, crowning achievement. My piece-de-resistance. You will find it linked below. Have a look, have a cigar, leave a like. Leave a trademark TradingView troll comment. It's a guide to the spx. 😉 Editor's choice in the making 😉.
Comments????
Something Something encouraging and insightful? Let's master the markets together. The master and margarita.
Note
"I'll leave it on the chart, allow you guys to do some researching and searching, (RE indicators) 😉"
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