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Thursday, July 26, 2012

5 Min & Daily charts

on the 5min chart you can see in the
1st- highlight that the long wicks are telling us price is hitting resistance up at these levels
2nd- highlight shows a double stack, and a some reversal off of that.
3rd- highlight again shows a double stack.

But if you look to the daily chart, to the far right you will see where the arrow is, that price went right up and test the support line.  This is a chart I drew up months ago and that I occassionally check to see where resistance and support can possible form.  You can easily duplicate this chart yourself and then watch it over time for key bounce areas.   You can see where the next low should find support at...

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