Wednesday's Bullish Bias - More on W -Patterns

Students and Guest's...

Peruse this chart, and let me know if you saw these two "W" Patterns...also while in the Hotcomm room at 1 o'clock we had that DT...and it looked like it was going to do its thing; yep moved toward the low.

One of the problems with all of this, they were all PowerTrades...no muscle, therefore risky. If you believe that the 15-Minute MACD was the trend direction then all trade set-ups should be long. That would go along with the Bullish Bias on a Wednesday...of course the one o'clock trade in most cases would be against the trend. But really take a close look at that.

1. The immediate trend at the time, and for over an hour an a half was moving down and the set-up came below the MA.
2. It's very repetitious during this zone...so not all that risky -- not more than a point IMO.

Your thoughts...

Marsh.

Thought for the day...

No matter how big and tough a problem may be, get rid of confusion by taking small steps toward the solution.

Do something. Then try again. At the worst, so long as you don't do it the same way twice, you will eventually use up all the wrong ways of doing it and thus the next try will be the right on.

George F. Nordenholt
Writer