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Wyckoff trading method, page-996

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Beany72

3,285 Posts.

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28/09/16

08:41

Post #: 19465643
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Originally posted by Jako64 ↑

For a short term or day trade, yes, probably best to follow the momentum.

But I have been pondering the stock for a bit lately, as the daily movements suggest the trend maybe getting a bit tired, although the weekly is OK so far (remember this week's bar is still incomplete)

I am glad that it made a new high recently, as that gives it a better chance to keep going higher,

See the weekly chart.....

View attachment 269150

But on the daily chart the new highs are shortening, which may be a sign of weakness, or at least that the trend is becoming tired.
But also maybe a sign of absorption (of supply), prior to a new breakout.
So I watch with interest, but haven't flinched as yet........

View attachment 269165

cheers

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