Dislikedi dont trust the up move.. and it approached 50 retrace and theres a resistance in that area as well......this is more a casino trade than anything else..lolIgnored
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This is what I am see-ing now on 1hr in respect of potential support/resistance factors (previous obvious near-term swing hi/lo's ie obvious previous near-term imbalances of supp/dem and dem/supp, unbreeched fibs and trend lines.) The wide dotted trend line is a breeched trend line and the green is the current 1hr decsending cahnnel bottom. Price's sell off from the decsending resistance trend line sold thru the prev 1hr swing hi's shown as a grey zone the recovery coming from a 6495 area low.
The bottom potential support zones shown on this 1hr screencap are co-existant on 4hr ie previous swing lo=previous supp=potential support as is the previous swing hi=prev res=potential res extending 6641-57 area.
Currently 1hr remains in an uptrend albeit messy.
G/L
http://i28.tinypic.com/25g44g9.gif
ex member