Monday, February 13, 2012

bottoming pattern on /gc

huge vol.  1 minute candle.

long tail forms on 1 min candle.   next 3 - 5 candles create a rising wedge ---

move back to previous resistance -- either horizontal or top of descending channel.


Huge volume candle pops into area of congestion or into double top. 
Next 3 - 5 min. forms sloping line or horizontal resistance area...  market will then fall to bottom of channel or form double bottom with nearest, most recent short term bottom.

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