Posted On: 10/02/2014 12:54:36 PM
Post# of 56323
Watch for RSI in the 30 range to trigger buying as day traders start buying at .0435 range with selling at or close to .0580 This is likely to happen early next week. Note that SMA20, SMA50,SMA100 are all converging.
I do not day trade but do trade ranges for buy and sell opportunity. IMO, when margins for range trading are close ( 0435-.0580) there is to much risk but again, that's why I don't do day trades.
After the day trading occurs next week look for confirmation as block sells enter the market at resistance points. Probably going to see large blocks sold at that time and start to see new lows.
I do not day trade but do trade ranges for buy and sell opportunity. IMO, when margins for range trading are close ( 0435-.0580) there is to much risk but again, that's why I don't do day trades.
After the day trading occurs next week look for confirmation as block sells enter the market at resistance points. Probably going to see large blocks sold at that time and start to see new lows.
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