Tuesday, May 22, 2012

Cable Outside Day with a Down Close

Larry Williams teaching (I think it was from him).  Days whose high and low exceeds the previous day and closes down has a high likelihood of being bullish the next day.  We are at some daily support.

I just don't want to be blind to keep going long when price keeps dropping.  I've been pretty good at avoiding that which I see newbies doing all the time (trying to pick the bottom or top).

Also, today was a pretty good ranging day so many times you can expect a smaller range day the next day.


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