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Welcome to the week that was or the week that will be. Going in strong, with hopes up? Going in long blind? Looking forward, not back, we have yet another possibility to explore. Puzzles are solvable, the future is not.. it is only possibilities and the more we look, the more it is likely to reveal new sites, like the Universe with myriad of stars, revealing patterns of new wonders as we seek for new plunders.
My question to you is: What if we are on the verge of another step up to another secondary trend line in the channel?
This does not dismiss my original pattern outlined last week, but it does bring another one into the forefront to consider. For traders however, there is only today to watch and consider. The future always reveals itself at the proper time. Keep working it.
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BIDU Looks like the future seems bright, again, where it shall lead, and how high ? Yet it looks the same model will work.
Long above $429 to near $431, then $432-$434. Breaking above $434 to $439, then $442-$445. Short below $426 to near $424.50, breaking below $424 to near $422 and dropping below $420 would open BIDU up to the possibility of $400.
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FSLR As traders we always look for the opportunities, the "what if"s. Looking is one thing, jumping without thought is another. The intrigue is strong with FSLR; Of course the break out above $130 could make it really interesting and given it's history, it's not impossible. Consider the downside too, however, as it has equally slid taking away many a dream.
Long above $122 to about $124, breaking above $125 to near $128. Short below $120 is only for scalpers to about $117, below which a revisit to near $115 is possible.
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FCX Continues it's journey in an attempt to fill the gap. It is anticipated by many if not all traders. There is that word again: anticipation. Nothing wrong with it as long as it does not blind. FCX is not a fast nor a big mover usually.
Long above $86 to $87, then near $89, breaking above to about $91. Short below $84.50 to near $83, breaking below to about $81
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KO Interesting breakout could lead higher here with going into the holidays, never underestimate the need for a drink.
Long above 57.60 to about $58.60-$59-$59.50. Short below $57 to about $56, then around $55.30.
Happy Trading, Living and Dancing
Anni
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