Identifying market phase is important and has always been the first step of my market methodology, it helps traders identify trading opportunities more efficiently. ...
A re-cap, following was an earlier post on BreadTalk. The stock was trading in the Mark Up phase with momentum paused, forming a Bullish Flag Pattern.
Traders can take the opportunity and apply Fibonacci projection tool (a simple and useful tool I discussed in my last seminar) to determine the target price. The trade went well as planned.
Breadtalk will likely enter into another accumulation/distribution phase, in view of the light volume traded during the later phase of the mark up.
I will share more of my methodology and future seminar details in my future posts.