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Strategies & Market Trends : Technical Analysis With Charts
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To: MACD X who wrote (5691)9/22/2007 8:43:43 AM
From: hawkeyefan  Read Replies (1) of 6865
 
I still like your orphan candle idea and do use it.

Besides price projection, you can use it for time projection to look for the top.

A question though, this last Tuesday we have an orphan candle
on SPY. Now it is not quite as clean, but it is close.
Should you use that candle in the leg from Sept. 10 or Sept. or 17? If you use Sept. 17, the move could be over. If you use Sept.10, the move will go to 1555 to 1560 area. And should do so this coming week.
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