Objective One - what indicates market support
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     hibikijoji
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Username: hibikijoji
Post Number: 333
Registered: 08-2005Rating: N/A
Votes: 0
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| | Monday, July 09, 2007 - 09:16 am: |  
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This thread is dedicated in finding out what traits indicate market support.
Feel free to comment.
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hibikijoji
Member
Username: hibikijoji
Post Number: 334
Registered: 08-2005Rating: N/A
Votes: 0
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| | Monday, July 09, 2007 - 09:19 am: |
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From http://www.incrediblecharts.com/userscripts/forums/show.plx?tpc=10&post=115245#P OST115245
In the past three charts I've posted, a general indication of faster momentum has these traits:
(1) The current price is at its highest
(2) The previous bars have been bullish (that includes red candles)
(3) The previous candles only overlap in a small range of prices
(4) the candles % gain is equivalent to the gains seen several years back
(5) At the breakout candle, the closing price is above the the previous high
(6) If you draw a regression line (on a log graph), there is a distinct, smooth trend.
Mind you, this is only indicative that there will be gains. As to how much will be gained, I am not so concerned.
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