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Tuesday, November 16, 2010

no indicator day

Trading off of a momentum indicator on a trend day like today would have you screwed six ways to Sunday.  Here's what buying a momentum divergence left you with today on the 15-min:




While on the 5-minute one would be sliced and diced:


  So, on a day when Advancers/Decliners are severely out of balance, the TICK starts of with -1000 and can barely get back to zero, and the rest of the breadth indicators are flashing sell, just turn the squiggly line indicator off.
What were some reasonable targets to aim for?
Fib Retracement as measured between the PDC and today's Open had a great proportion:
and the Fib retracement off of the PDH & PDL had similar results

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