@Pete has a really nice basic rule about large red or green bars and their midpoint holding. Why is that rule effective? Because if price retraces past a certain point, why not shoot for a full retrace and see what happens, and then if that fails, let’s see if we can close the gap, and then if that fails… Basically this is a Bear market and smart Buyers will wait and see just how good a price they can get once key levels start breaking down.
October 5, 2022
Archives October 11, 2011