Thursday, October 1, 2009
example
An example from today of Impulse, retrace (short-covering), continuation. Notice how price retraces 38% of the impulse move before continuing. When the sentiment is bearish (20-EMA underneath the 50-EMA) and you see a big move (impulse move), getting in on the retrace is a very high probability setup. Short that return to the 20EMA!!
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