Block Location
Posted: Wed Oct 08, 2008 9:34 am
Another Q, actually it is just an observation. In many charts I noticed that, for example, markt is in trend run down, say on hourly bars. We notice that hourly is setting up dotted line for congestion up, and all is well, we also notice that hourly block has weakened. BUT, it's not until the last hour that hourly congestion up occurs. But than near the close we notice that tommorrow's daily resistance is at daily EB, so daily C wave may be coming, at the same time hourly block which was weak until last hour has moved into tomorrow's daily resistance, thus it's strong now.
Should one exit his longs which were taken today in last hour, given that oncoming live indicators say so? H.B.
Should one exit his longs which were taken today in last hour, given that oncoming live indicators say so? H.B.