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Where Will This Pullback Find Support?
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Thursday 26th January 2012
The first place we look for pullbacks to find support is abeam other swing highs/lows or areas of congestion. However there are other places to look as well.
You don't always get this signal, but take note of it when you do as it offers another simple clue regarding a potential pullback support area.
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January 28, 2012 6:28 AM
Hi Lance - Thanks for your tip on volume. In past my efforts on utilizing volume didn't pan out but may be this will. I will check it out.
Your post (Real challenge of trading) in weekly newsletter is right on mark with some of the mistakes I did in past & present. I would have gone for first short entry but not below red bar though. My reasoning is mostly because in the correction (1 min chart) there was not 1 bar without less than 60-70% overlap.
January 31, 2012 3:20 AM
great tip. I have used this analysis for larger time frames but never tried it on a smaller time frame.
keep up the good work
your best fan
-terry