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Short Term Trading Week Starting: 04 Feb, page-136

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rick64

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08/02/19

12:08

Post #: 37375276
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Originally posted by scooter83: ↑

Hi @rick64 IMO it looks like it had quite a good run for three days and was possibly outside of the bollinger bands. The overall trend in the rest of the indicators still indicated upwards but perhaps this was simply some profit takers with the expectation that the SP would cool back down to a smooth trend line. The large red candle indicates a pull back so perhaps it would be a good move to exit once that candle began, can always re-enter if it reverses but at least you have your profit. I'm still going through my own learning curve but I see it often enough when there is a spike, even in an uptrend that the SP will fluctuate within a certain channel where people will take a small profit and then buy in again.

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CDX it was slightly over the top bolly most of Thursday, but is trading close to/below bottom bolly now. Thanks mate more indicators I now have to study up on!

XAO Value at posting: 6,142.2
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