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Old 05-13-2008, 04:01 PM
mpower mpower is offline
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Absolutely agree on that Simba.
Patterns and ANY kind of trendfilters are sometimes way too late in signalling exits. My opinion is that general resistance areas and loss of momentum are by far the best ways to exit. I also place a fibo expantion(as you see in the picture above) which most of the time coincides with potential resistance areas. A useful indie is the RSX(basically smoothed RSI) that you see in the picture. I think this up move is not over yet. We'll see.
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