Thursday, March 21, 2013

Fibonacci Ticks 233-6765 TTM

A squeeze set up this morning with the wave on the bottom and the volatility build-up took us lower. A second squeeze formed of longer duration with the wave now above, mid morning. Price shot up higher but the pattern resembled a short squeeze. A third TTM squeeze set up prior to noon and this took us to new lows with initiated selling. Currently, a squeeze has been building for the latter part of the day, that should move with some force upon its' release. A longer term squeeze is setting up on the 6765 tick chart for a high volatility move in the near future. The squeeze that set up earlier in the day was only four wide, and the move had some significant weight to it. The squeeze building will be of a much higher magnitude as it is already three times as long as the one prior.