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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: Cola Can who wrote (303)	9/23/1999 10:07:00 PM
From: Casaubon	Respond to of 967

yes, exactly. A clearer way for me to have written it, would have been to say, stronger support exists mid-way between $79 and $86. This is because strong support can usually be found at the mid point of a tall white candle, on high volume. iqc.com as you can see, ETN had a high volume tall white candle in mid april (looks like about $79-$86 in one day). The middle of that candle represents strong support. Having said that, I should reiterate, there is horizontal support at $85, which was tested in late may and again in mid june. It all depends on your risk reward tolerance, as to when you want to try and get your position on. Disclaimer: Please remember, I'm new at this, and mostly paper trading. I am posting my opinions to help myself stay focused and to challenge myself on positions. I may or may not have a vested interest in a company I discuss. I do post when I have a position, based on a chart I have discussed.