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NO TRADE today... Look at the candlesticks

5 min Emini Nasdaq 100

Hi,

Market gapped up today and continued it's path up.. Candlesticks have short bodies and price is not really trending anywhere.. Flat and enclosed within narrow bollinger bands...

Under such conditions, short-term MACD and shochastics are simply not reliable guages of entries or exits..Price action is still the main indicator we should look at for decision making ..

Posted by Michael Taylor on December 8, 2008 5:30 PM |

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