Well, today the market is conducting Act 1 of A New Hope. Taking a look at yesterday's post, that counter trend buy on the 3-minute was the one to get us in to the rally all together! Wouldn't it be a trip if that was the ultimate low!?
So far, today's bar is closing outside of the Regression Trend Channels. If that completes, we would be looking for our Type Two trade to trigger (good alliteration) on a cross of the today's high. We'll be sure to keep you posted!
Be Prepared!
Nate McCartney
Did you have a vision or something like that!
Posted by: david | March 10, 2009 at 03:17 PM
Not at all. We've been watching for this for weeks now as we monitored the Wave 5 coming down on the Daily. It all has to start from the small time frames, so when we hit the MOB on the Daily, it was just a matter of time for it to happen on the intraday time frames.
Posted by: Nate McCartney | March 11, 2009 at 08:09 AM