I will start with Monthly and even ignore Weekly Chart of TLS in order to eliminate confusion or analysis paralysis.
On this Monthly Chart below, all I wanted to highlight is the importance of the LONG TERM SUPPORT/RESISTANCE in Yellow. November DOJI CANDLE with it’s long wick did show the potential SMART MONEY presence at that level . We are only two trading days in to the month and look at the last candle which gives us one of those pivots already if it finishes on it’s high, EOM.This is MONTHLY CHART we should remember which we will drill all the action on the next daily chart ( second chart)
Now to the daily chart below.We drill TLS down with our Wyckoff Method of Analysis. PST,SCLX,AR,CREEK,JAC,LPS are all there, ending PHASE C and entering PHASE D as of today.In Wyckoff Method, there are three prescribed LONG POSITION entry points for it’s followers, two of which are on hand already. Please study our accumulation schematic.
I also marked the level where TLS would be considered in a new BULL RUN or PHASE E if Wyckoff Method is applied.
The SPRING low is the LOW POINT of the November from the first chart. This level is a MUST HOLD if the SPRING is GENUINE.
Can the pattern fail ? Yes, absolutely and that is why the Whyckoffians, through their studies know when that would be.
DISCLOSURE : HELD
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