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5/9/2001
Today Nasdaq has a failed rally, I expected in the
morning that shares will trade from weak hands to strong hands. That was obvious
on 5 min chart until 12:40 pm then retracement happened, I did not worried
about it initially but around the close, the picture was getting clearer, almost
100% retracement of all the morning movement up, when this happened and knowing
that there is potential turning point 5/11/2001 +/- 1 day and forming lower
highs, I decided to exit my long position early today to prepare for the next
move.
"Always" when I see 100% retracement of of a bar I
look at it seriously and combine it with other methods when(and only when) maven
has been established in one direction for a while.
Look at change of polarity in gif
picture.
Look at the measured move picture.
Look how 2x1 angle broken
Astor matters mentioned before on my
previous.
Check what I said about cluster of ratio and
Fibonacci
Look at the lower highs
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