Friday, March 26, 2010
Follup on the 3-day (5-minute) chart.
Notice on the 5-minute chart once the sell criteria is met I make a new fib (pink) from the last low to high. RULE#1 = know your surrounding (look at longer-term charts to find key area's of support/resistance) I posted the 60-minute chart on my previous post to also know that 1161 is a strong support level.
On the 1-minute I saw bullish divergence and the trand break confirms it for me to get out of the possition.