weekend charting november 21, page-80

radge,

The blue support tyne on NUF has been a tough cookie. It looks to be surviving to me.

If I had a long position in it, I would simply keep moving the stop up under the blue support tyne. If I was looking to short it, I would wait for the line to break, then wait for the back test, then short it just under the line with the stop just above. Target for a short would be the long term support tyne.

I am not o interested in trying to predict the moves. I just observe and have a plan for when a move occurs. The reason I draw the chart is so I can construct the plan, entry, target and bailout strategy.

Actually you picked the one chart where I pinned the P2 at the place where P2 should have been (it was my entry point on one that never got filled).

best
T91