Tuesday, June 5, 2012

The Best Set-Up for a Bounce

Maybe there's something better, but I don't know of anything better than the classic 3-touch support line -- especially when it occurs spread out over 3 days on a slightly higher timeframe chart.  And especially when the market is clearly oversold with VPOC way overhead.

5-minute candle touched the same area at 8 am this morning but the Market Signals were definitely showing promise.

As usual, moves after a 3rd touch are often spectacular and quick -- less than 3 hours for a bonanza.

These set-ups don't occur quite so often but when they do -- you want to play them every time.

No comments: