I'm thinking that it will go lower before it bounces. Look at the stochastics on the weekly chart. Looking at the 14-3-3 and the 40-3-3. OK on daily, but not quite matured on the weekly.
daytraderrockstar
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Well lets watch and see I see a great candle developing today and looking for my entry soon, I will agree with anyone who thinks this market has more downside which will make it harder for any this stock to lift but the idea is to map out the HPS zones where trend lines stochastics and other indicators converge, this will work most of the time except :-) when the market does break down or news effect the stock. I am not in yet but definitely digging the hammer building today.. btw thanks for the comments
daytraderrockstar
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It didn't take long..HPS strikes again
manijeh.kazemi.33
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thanks for this post
A-shot
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but its a lower low...
daytraderrockstar
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A lower low is just that I base my trades on a precise number of indicators when they align there is a high probability of a move in the direction that the signal gives in this case a bounce back to the 74-75 range and as you see today mission accomplished. I put out a kick ass trade once a week here but I have a watchlist full of them setting up consistently and with alerts to levels being hit at daytradingradio.com