The potential bear-to-bull reversal is often a tedious process requiring tons of patience, one which I written about extensively over the years.
Two examples of candidate for the major bear-to-bull reversal have been GRPN SKUL.
The first goal for bulls is to see price stop going down, then base out. Eventually, price should move up and out of the base with daily chart moving averages rising and starting to properly-align. This process is filled with tons of random gaps to either direction, with generally frustrating price action for all but the quickest and most fortunate of traders.
The next gap cementing a major “higher low” after the movement up and out of the bottoming base.
Recently, Groupon failed to put in that major higher low, while Skullcandy has been more successful.
Take it one step at a time, and never assume the reversal has been proven true until you see “the last good higher low.”
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Re: one last good higher low at a time
FXI is getting close to what has been a buy zone over the last few years. But in the context of your Strategy Session point about Doc Copper and the Shanghai Index near (dicey) monthly support line, perhaps its best to just keep watching…?
Thanks, mateo! Agree with you.
ipci get its groove on