ok, clearly this is a measured move. the next resistance is yesterday's high (red line above).
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volume surge and the biggest bar, so bulls could take a breath here. after that should be more on the upside.
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taking a breath like I said. let's wait to see how it takes. normally, should be more on the upside.
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Cobra wrote:volume surge and the biggest bar, so bulls could take a breath here. after that should be more on the upside.
Why more upside? Momentum too strong?
yes.
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next resistance, multiple fib confluences area. overall, it's just a rebound.
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Cobra wrote:volume surge and the biggest bar, so bulls could take a breath here. after that should be more on the upside.
Why more upside? Momentum too strong?
yes.
Any easy way(s) to measure momentum or if it's waning?
you have to have some experiences.
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Do you expefct the rebound to last at least a few days or is this just a one day thing ? CI is now in buy mode so with the 80% success rate should be at least a few more days on the upside correct?
Just wondering as I went long today on a lot of single stocks with trendline breaks on hourly and would like to know if I need to tighten stop loss in case this is a one day thing and tom we are down huge....that would suckkkkk