The lines are the ORB I refer to daily. (first 3 10 min bars high and low). notice the morning breakout and test at A that penetrated the 20 mathen put in an inside bar and rallied....would suggest a successful test of the ORB and rally ensued....At B I stated that we may accelerate at 863 break but a mirror image of A played of the test. Was the reason I said last 20 min ramp would play out. Hope this helps and show one of the ways I use for direction.
Wednesday, January 28, 2009
The lines are the ORB I refer to daily. (first 3 10 min bars high and low). notice the morning breakout and test at A that penetrated the 20 mathen put in an inside bar and rallied....would suggest a successful test of the ORB and rally ensued....At B I stated that we may accelerate at 863 break but a mirror image of A played of the test. Was the reason I said last 20 min ramp would play out. Hope this helps and show one of the ways I use for direction.
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If possible can you please explain what you mean by the "20 mathen put in an inside bar" ?
ReplyDeleteI've been following your posts for a while and find your analysis very helpful, but I am unsure what this means. Thanks in advance
The red in is the 20 moving average on the 10 min chart the orange is the 50.... notice the first breakout from the orb in the morning then the test of the ORB...the low bar of the test was then followed by a bar that was inside the previous red bar...the same action happened at B
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