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| fokane 74 posts msg #56673 - Ignore fokane |
11/11/2007 2:18:43 PM |
| SFMc01 358 posts msg #56691 - Ignore SFMc01 |
11/12/2007 8:33:13 AM focane: Respectfully, why was this posted? |
| johnpaulca 12,036 posts msg #56694 - Ignore johnpaulca |
11/12/2007 10:17:32 AM nice looking setup Fokane...thanks |
| fokane 74 posts msg #56699 - Ignore fokane |
11/12/2007 2:14:58 PM i thought i would share it.  |
| five40 23 posts msg #56720 - Ignore five40 |
11/13/2007 3:01:14 PM Can you help a newbie out and please explain the pattern here? Also, what is the setup, where are entering, what potential do you see. Thanks! |
| fokane 74 posts msg #56748 - Ignore fokane |
11/14/2007 3:42:34 PM five40: I'm a newbie too :-) I'm not sure how much you know about support/resistance etc. so you might already know this but what i did was just draw two resistance lines on the chart as i saw them. What i found interesting on this chart was the high wick on the gap up candle which showed the potential to get to the upper resistance line. So any breakout could get up there,i thought. Even if there was a break to the downside i could turn and go short because it could fade the gap as happens alot. Either way seemed to be good risk:reward ratio to me. The other interesting point is the huge volume on the gap up and following days compared with the low volume on the down day which i guess biased it for a break to the upside. Maybe other people have thoughts on this setup? |
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