View Single Post
  #28 (permalink)  
Old 03-15-2008, 06:27 PM
Don Don is offline
Member
 
Join Date: Mar 2008
Posts: 37
Default

Quote:
Originally Posted by david View Post
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
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
Reply With Quote