Monday, June 24, 2013

MULTI-CANDLES LOOKING FOR A SUPPORT/RESISITANCE REVERSAL 6/24/13

Often you will see multi-candles holding at an area seemingly looking for a support/resistance.  If a level is near, I'm looking for a reversal move.



Channel pushing down to give high sellers their +8 +10 as well as the SBBO players.

Two areas with multiple candles establish a local support and provide nice PB reversals.  The second breaks the channel and stays positive on the 50CB trend line.

Range run with a Trading Range BO of the LB that breaks the TL on a gap to the BO-5

End of day range run and PA back inside the 50CB channel.

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