Every now and then I throw out a mystery chart just to get us thinking. Not knowing what a chart represents helps eliminate biases and any ideas we may already have in our heads. Today we are looking at what I think is one of the more interesting developments in the market today.
This is a chart that has been in an uptrend for many years. After about 4 years of consolidation, prices appear to be breaking out above the upper of these two converging trendlines.
Forget what this is. Trying to guess defeats the whole purpose of the exercise. Think about what you want to do here and how you would execute a trade/investment. This mystery chart could potentially represent a stock, ETF, Currency, Commodity, etc. It doesn’t matter.
How would you execute?
What would you do? Buy it? Sell it? Do nothing?
Click Here to see what this chart represents