Quote:
Originally Posted by david
hey samanouski
do you not think it will test 2.0250 before bounce?
i have to say it does look like it is slowing down and maybe might not even reach 2.0280 again before the bounce?
thanks
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Did you read the Joe Ross Book? Hourly shows 1 @ 2.0391, 2 @ 2.0281, 3 @ 2.03343. Now it is going into Consolidation. Failed to make new High above .0350 so start again. Up 2 to 3 Bars, Down 2 to 3 Bars. I put Lines on my chart @ the 1 & 2 points.. Those are usually always your Hight / Low points.. Then watch for direction. I trade the hourly chart so it is much slower.. You have to count fast on the 5 min.. Try backing off to the 15 / 30 min charts. Add a 55 Low & High SMA and a 180 Low & High SMA.. Now watch how price bounces off of / Breaks through these lines. Above 180 long / Short below 180.. When these lines intersect (Like they are right now on the 15min / 30 min / 60 min.. Watch for Consolidation and Range Trading.. After consolidation Watch for Break out.
Don't think or guess where it is going.. it will tell you where it is going