Another positive week is in the books for RDW, and once again the bulls remain firmly in control. From both a price and volume perspective, it’s hard not to respect what this market is doing right now. When I look at the weekly chart above, the first thing that jumps out is the record weekly and monthly volume. That kind of participation doesn’t show up by accident. It tells me there is real interest building under the surface, and that often lays the groundwork for further upside down the road.
What makes this setup even more compelling is the steady increase in volume over the past seven weeks. Each push higher has been met with more participation, not less. To me, that’s a sign of accumulation rather than exhaustion.
That said, patience is still my biggest challenge right now. I’ve been waiting for a meaningful pullback to get involved, but my bids were simply too low. That’s frustrating, no doubt, but it’s also part of the process. I refuse to chase price just because I’m afraid of missing out. Chasing might work once or twice, but over time it’s a great way to destroy discipline and risk management.
Ideally, I’d like to see a pullback toward the $9 level, where risk and reward would line up much better for me. Whether we actually get that remains to be seen. Over the past seven weeks, RDW has only given us three pullbacks on the daily chart, and each of them lasted just two or three days before buyers stepped back in. That tells me demand is strong and dip buyers are aggressive.
At the very least, I’m looking for a multi-day pullback to help relieve some of this short-term extension and give me a cleaner entry to work with. Until then, my job is to wait, stay disciplined, and let the market come to me. We’ll see how things unfold next week.
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