My buddie Moise posted this message on his blog;
Quick look at the chart of Las Vegas Sands (LVS) ;
1) Pay attention to the ABC pattern in Jan 09
2) "C" level was the buy trigger ; reversed, then "A" level becomes your stop
3) Notice that the volume action confirmed the move ?
4) Right now, "C" is not yet clearly above "A"
5) Volume confirms price action
I use charts like a piece of art ;
Warning, news events and new fundamentals MUST confirm price action with VOLUME.
If that is not the case, move on, many charts out there worth looking at.
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