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Good thread Tin. Lately I have been hearing a lot about TRLG, when I looked at the chart I see a rising window that is so far holding it's support. We obviously had a spinning top against resistance, but now it looks like a spinning "bottom" forming at a possible support level, but I'm not 100% sure if that's what you would call it.
1 - Let's assume it is a spinning bottom, since it is on support would this be a good area to go long if you got a confirmation?
2 - If it's not a spinning bottom, how should I perceive this candle?
Thanks Tin, and whoever else chimes in.
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James,
Notice how the market was gapped UP through resistance. Any moves to the downside here that show lack of professional interest (Low volume, Narrow Range down days) would be an indication of higher prices to come.
I wouldn't call this a "spinning bottom", more of a pullback.
Hope that helps!
