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I think that most experienced traders realize that the markets are like the
magic trick of boxes inside of boxes. You can go up and down time frames and
through a myriad of up and down legs and find ABCs everywhere. The trick is
to be able to use this information in a trading strategy that will give you a
profitable result. The problem is that most traders don't know where they are
or they try to trade all the cycles at the same time. You have to be able to
take apart and reconstruct the charts so that you have an understanding of
what they are telling you. Only then can you come up with a solution that
will provide a profitable system to trade by.
"william h. corey" wrote:
> Its nice to be aware when patterns present themselves and price may
> reverse.. But this should always (in my mind) be related to larger
> stucture as well..
> At present a short term bottom may be forming ?? it may not last
> long or rally back far.. My studies at present still suggest higher
> odd's for price dropping lower before taking out 12/19 high.. As day
> progresses conditions may change...??
>
> last pic shows res levels that may halt price ??? (TWT) time will tell
> !!!!
>
>
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