$AKS Bottoming tail formation in progress A bot
Post# of 474
Posted On: 11/16/2012 12:43:12 PM
$AKS Bottoming tail formation in progress
A bottoming tail is a candlestick at the low of a chart near major support where the candle gets pushed down but ultimately closes in the top quartile. This means bulls are stronger than bears or buyers beat sellers.
If this is the case, and we have a few hours left in the day, then I will adjust my stop out to the lows of today. That is if we get a close below today's low that will be where I will stop out instead of my original 25% loss. Furthermore, if we get a retrace towards the lows of today, I will look to add to my position.
[IMG]http://i.imgur.com/Xb8B4.png[/IMG]
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