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Narrow Bollinger Bands, short-bodied candles, flat moving averages -> No trade!

5 min Emini Nasdaq 100

Hi,

How is it going lately? What goes up must come down... prices have been climbing and climbing and it is not entirely impossible if we see a correction here.

Price gapped down today and covered up in midday trading session...Moving averages are extremely flat and bollinger bands are narrow..

This is the first and most important signal that caution me against entering the market.. No trade today.. We should wait until there are clearer signals from the market.

Posted by Michael Taylor on April 14, 2009 5:14 PM |

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