Thursday, August 23, 2012

GU 23 Aug

We may be at a resistance level going back to Nov 2011.

I am working on a price action methodology (RSI no longer used on this not even for divergence). Entries the same 1hr and 5 min higher lows/lower highs.

The indicator is not on the D chart but it would have signaled up on 20 Aug, so for the last 2 days the focus on buying.

Yesterday we said up bias again, the 4hr signaled up on 22 Aug at 00:00 with no sell signals. With trend we can go with D + 1hr signal/flow, counter trend we would want more than 1hr signal alone. From 1hr we would be focused on signals that confirm the higher time frame view i.e. buys.

Bias up, after strong move up we can have a counter trend retrace though.




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