DislikedExcellent reply Bel...Was hoping we would get one of the VSA'ers if not Mother Mal himself chiming in on this...
I have read threw and studied a quite a few of Hiddengaps charts and posts as well as relate the same information from my days as watching volumes in the stock markets. Someplace in the mix they make a fair amount of sense.
IF we had seen a massive high volume bar and clean broken threw that DTL, I would say that we stand a better chance at the higher highs...but like you pointed out, we haven't even gotten to that point, so assumption...Ignored
Going back to the end of 2008 we have entered this 4000-4300 zone from below 3 times (not counting this one) and 2 of 3 have resulted in a stop of the move upward. One time in 2009 we pushed through (but it took alomost 4 months to do so) making that years high at 5140.
We will see 4280 this week and as you said we should see some good reaction there... time will tell I guess.
Today's zone = Tomorrow's opportunity!