re: bottom a long way away Beijing I don't think the close today or anyother day is a good indication of what is going to happen tomorrow or anyother day for that matter .
One only has to look at a ohlc bar chart to see the last 4 days as Monday closed on its low yet Tuesday gapped up and closed on its high but then Wed closed on its low only to see Thursday gap up and close near its high .
My understanding of todays close was it wasn't an exhaustion bar [ closing off its high ] so in all probability it has a higher chance of being up tomorrow but I wasn't that confident to add to the posi .
Generally at major lows it will gap over either 10 or 18 ma's then come back and test them .
At present they are both down but first good sign of an uptrend will be a gap open tomorrow with a good weekly close adding to the possibility of 4 ish weeks of upside .
The weekly lows count allows for it to now head up but it's not deffinite until we have consecutive up weeks .
Long for the brave with stops under the lows .
ge
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