Doug,
I can't be drawn into a time consuming pursuit, particularly now, but Claud is important, so I'm making time. I'm hoping you'll join in and slap me silly and tell me to get some sleep when it's necessary. Your presence here could keep the spirt alive as we INVITE CLAUD BACK.
ABTE is sitting on the bottom of an 11 bar Andrews Regression channel. Sometimes called a least squares or best fit trendline. It may be 1/4 above bottom, it may not recognize the bottom I'm seeing. Low, 10/8 to High 10/19, that defines the channel. A simple best fit click works here. then add parallels, I love parallels, must be the carpenter in me, and why I eyeball more than draw.
I believe that channel is an extension off the 9/1 Low, and indeed upon drawing the lines rather than eyeballing the 9/1 Low is sitting on the trendline that forms the channel top. Interesting, a break above that line will be more than just coincidental, if and when it ever does :) I believe it's current price action that matters more than precisely locating some of these points but this time I drew them. imagine that!
Today closed both higher than the open and higher than yesterday's close. I'm long somewhere up there near the top of the channel because that expansion bar last Fri, signaled a b/o. the b/o occured Mon, failed and pulled back into what I call inside day action, but only as measured by last fri's expansion bar. Blocks today on the buy side, tall green volume bars at the bottom of a 1tick chart.
Logic behind ABTE trade.
exchange2000.com
exchange2000.com
Osci |
