thinking thursday, page-20

Orright lads,

Here's some fings for yez.

Observe ze hourly chart:



Okay,

Firstly

Light blue lines Vertical...

Historically price has reached certain extremes as it moves around the 200ma (dashed red line on price).

I have only shown two here, but if you go back aways, you can find more.

Each time it has reached the distance as marked by the blue line, from the 200ma, it has retraced a good 50 percent of the up move.

It may well do it again.

Note also the thick blue downsloping trendline.

A break of a trendline often sees a retest of same trendline.

Note also the current patterns on teh Moving averages for the MACD and the stochastic which are suggesting potentiall reversally (salute to Volt and Debono) signals.. big ones in fact.

A coupla other things regarding these indicators is the fact that they are at historical (to this time frame) extremes.
Also worht noting is the current upside extreme on the MACD Mavs is roughly the same distance from the zero line as the historical distance of the last extreme downwards.

So... a lot of things suggesting shorty stuff may now be valid.

And yes, that massive move up sure surprised the bejeezuz out of me... and brilliant to see. I did not play it right, but I am still a learner.

Now of course all these observations wont be valid til robbbbbbb says they are. But luckily I mention a thing or to that he has commented on in the past so I should be safe in some of the hindsight things.

ANd my more esoteric stuff really should be ignored, as well it isn't written about anywhere else, and though mentioned before by myself, obviously cannot possibly be valid either.

so A big ole raspberry to the lot of ya!

Bahh humbug... shoulda just written this up in my midweek report for all those traders I email with outside of Hotcopper, and must get on to MSN immediately.
;)