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Chart Folder - January 4, 2005: |
Interesting morning...not very fruitful till the afternoon session. We will catch some of these moves during one of our Workshops. 10 o'clock reverse was short and sweet...but was good for 3/4 of a point...we also got to look how a Open Gap strategy works. The large circle in the upper left hand corner is an M formation; a bearish pattern, and notice it also brokeout of the 30-minute low Breakout Strategy at the same time. Tried to catch the low during the 11:15 reverse off of the blip (noted on chart)...no MOM. Wedge and Break Out of descending channel was noted in hindsight...but hey; that's what you look for when you recognize that pattern...and it did have MOM. (Note: MOM stands for momentum...aka Magic Numbers) Subscribers...Workshop starts at 10:25 EST. Any comments, please send me an email or ask question during the workshop or on Paltalk. Marsh Thought for the day... Many of our goals do not require detailed plans, but all of them require that we must follow the plan we have. Make certain your plan to reach your goal is simple, and then follow it carefully. Most people don't reach their goals because they're not committed and willing to follow their plans.
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