This demonstrates a continuation of the
up trend after a short correction, resulting in a 10+% move (picture
below):
1) Channel
lines are drawn between the previous 2
tops
and bottoms. We're looking for "higher highs" and "lower
lows",
meaning the previous top is higher than the top before it, and the
current bottom is higher than the bottom before it. This shows the up
trend.
2) The price stabilized at a minor bottom and is
now
accelerating from the bottom of the channel, breaking through the 20
day Moving
Average (MA). Resuming up trend after a minor
correction.
3) The brown indicator is the Squeezed
MA indicator. Since it's very low, it indicates the
minor correction is over, and up trend is resumed.
4) The fast stochastics
is just crossing above the
slow
stochastics around the 20 line. This indicates a reversal of
trend. Again, the minor correction is over, and up trend is
resumed.
5) The +DI is crossing the -DI indicators of the DMI
(ADX) indicator, and forms a distinctive scissors pattern,
signaling a
change in trend. The MACD
indicator based out just below the
zero line and is reversing. All supporting the change from
minor
down trend to up trend.