- keeps on going thru
- absorbs stops/orders and consolidates
- reverses
I think I must better learn which is most likely based on price behaviour on the hit. What are you looking for to help determine this?
I think what happens depends on if there are real orders there so if we are running long and take out a high:
- if there are no real buy orders above it then big guys are getting in at discount eg duck hunt and we should see strong selling - it will reverse trend
- if there are real buy orders above it it keeps running for more we should see no interest in selling
- if big guys are taking some profit then it will consolidate and we shall wait and see what comes next ie long run back on again when they get interested in buying again at discount
Alex
check out the terrain - follow never lead