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Sunday, December 27, 2009


Remember the post on chasing tall candles?

Here, I will show you my observations on waves catching.

FLR (remember, this was the tall candle)



Does it always work? Of course NOT!


Alternatively, you can always use one of the moving averages for lowball entry.

Reminder, this is not for day trading, although you can probably use it.

Exit point is determined by the close and not intraday.

Notice how intraday will break below moving averages but close above it.

I get faked out all the time, just so you know.