Davey Jones Locker...

Ok here is my analysis on DJS... now i must warn you i am bearish and i think retailers are going to struggle with all these interest rate rises and just my general sentiment towards it all ill go good sammy's anyday hehehe

Anyway i have pointed out that on the weekly there could be bullish divergance on the indicators if it can turn up here (i doubt it) but i have included that just to show that it has not escaped my radar but i must say dont take in to much as you can cloud your decisions. As i have been taught keep it simple, know your risk and make your trades accordingly.

I have included first the weekly DJS chart on longer time frame. Not one candle of this recent top could close above that high making it a double top.



Now i will show you the DJS monthly chart where i see some bearish divergance on the indicators to go along with this double top she has made.



Now i think mmm could be a big down move here for DJS lets see what the recent price action is showing me...
Now i look at the daily of the recent and see a lovely little head and shoulders pattern that has formed over the top, i have taken the range from the head to the neck and extended it down where it looks to reach a support level around $3.30



Now i think mm i should check my swing charts and see how i could maybe play this if i was not already playing it shorts from that double top... and no i am not on this trade from that top!!



Here i think mmm maybe i will wait to see if it can retest that neckline again and make a fib retracement where i could short into and then ride the swings down again to my target levels for profits....

Just an example of how you might look over longer time frames for targets then use simple patterns and swings on larger timeframe to play this short without getting to involved with indicators.

Here is the weekly chart with the bullish divergance as promised for all the bulls.



Although to go long i would love to see a confirmation of an upmove first from the swing chart getting broken and making higher swing lows and tops before you go long (thankyou rob) :) Please refer to wall chart when ever you want to take long position as you dont make same mistake twice!!...



:)

Happy mothers day hope you all bought her something from DJS hehehe