For PDS and all the relevant information in relation to VLC, please visit Vanguard AU Website.
When we have a classic Dow Theory medium term uptrend confirmation + an established Up Trending Channel + a Bullish Moving Average Cross Over in a weekly chart, there must be greater demand outpacing the supply in order to achieve this bullish trio.
Yes, we can also draw a neckline resistance and we can employ the mighty Wyckoff Method to drill things down further ( fine tuning if you will) if we want. But, there must be an uptrend if we started registering higher peaks as well as higher troughs. Dow Theory always trumps, in terms of defining the trend of an instrument in analysis.
I intend to keep it simple and be guided by the Dow Theory on this front. I am keeping an eye on the SUPPORT and RESISTANCE LINES of the established channel.
Remember, K.I.S.S is always the best approach imho.
Weekly VLC chart below.
On a different note, one of the most proficient and probably the best Wyckoffian Educator of our times Prof. Henk Pruden is amongst the presenters at the upcoming IFTA Conference (21-23 October) in Sydney, for those of us who may be interested in the conference, please visit IFTA and/or ATAA Websites for further information and pricing of the event.
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