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[RT] Re: 5/11/2001 NASDAQ Turning Point



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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