I may still be the "holiday" mode, but the 12/26 post was lacking. Any post should have an educational value for our readers. Two to three sentences and a chart was not sufficient. There is a substantial number of page visitors, and I want to keep the quality expected.
12/26: Another look
A At the open, PA was stalling at the LB and a bear TL was developing. The pre-open high or the B3 high was the limited risk for the shorts. the rule: when a level fails, anticipate a range run to the opposite level and look for a BO.
B Beginning with B11 we see a gaping in the highs of the bars and the EMA. This gap is used as a visual to determine the strength of the bull or bear run. With no clear bull effort, the shorts hold for the break out of the SB. New shorts will enter at the SB. The rule: a BO is expected to run for a +5 as a minimum (range days). Swing days will run 10-20.
C B20 50CB was challenged at the BO-5 but was a FBO suggesting more short activity. The BO-5 was anticipated to run to the BO-10 (see rule B). When PA failed prior to BO-10, a mid range reversal was anticipated. The rule: when a level BO fails, it is anticipated to return to the prior level. B25 found the buyers and closed at it 's high (also a signal bar for LONG). B26 failed to extend B25 selling (bullish) and formed a 2 bar doji with an entry available at the B26 50CB, 1412.5) to the high of the two bars.
D A bullish TL develops as PA reverses. B40 was a valid long as would any point along the TL. PA was gaping, a sign of strength. The next valid entries: B53-55 and B64.
E/F B65 fails to hit the SB and B66 was a FBO of the SB. See rule under "A" with an entry at 50CB of either B65 or 66.
No comments:
Post a Comment