MURICO.com Forum

First round of up momentum----

feels and smells like a sucker play. It is still early but my north fishing lines triggered @ 70.92 lost their momentum for up direction when price fell back below the trigger point which forced me to cut one loose on the bounce back to 70.90. I do not like what the setup is telling me so I listened to the screams of the Prime Directive and parted with the other one @ 70.80. This could prove to be an emotional mistake but up momentum has turned to down on my 15 minute chart and that's not supposed to happen in this 60 minute time frame. It's all an instinctive guess at this point but I decided a 12 cent donation is better than a 35 cent donation.

A retest or even a break of yesterdays low is still on the menu. I'm content to let this play out with south fishing lines still working @ 70.32 and reset north lines @ 71.22. I've had the thought of putting a single line back at the 70.95 area but that is midrange and without that elusive crystal ball I can't seem to find, midrange trades seldom favor my guess. At the moment, down momentum is begging to kick in. It's time for all the lucky guessers to make their choice. Up or down, why is it so hard for me to make a correct guess with only 2 choices. I can do correct 50% of the time but the 50% that I'm wrong, brings too much pain with it.