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princey37

3,607 Posts.

466

09/05/24

16:13

Post #: 73746543
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Originally posted by W3hunter: ↑

Yep lots of those going way down deep to the 786. I think the only way with these is that we stand aside and watch the first part ie: retrace 50%, 62% and even 786% then only enter if/when it reverses and the 9 ema makes it up through the short term 62% Fib res...and along with that the macd will have has crossed the axis line, the 9 ema has crossed the 13 ema etc.. this has kept me out of quite a few lately..BRN for example was waiting on that and just couldn't get an entry.. yeah scaling down works but we still need to be sure that its all good at least one time frame above the particular trade...opportunities are getting very very few...not many small caps have 65 above 200 and its getting less day by day....im still not really into scalping day trades but it might be all we have for a while..anyway RAC is one I'm watching closely.

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RAC is shaping up very nicely, rising volume on the way up for 3 days now. Just closed above the CBL as well.

Good points to think about, thanks.
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