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Revolutionizing Investor Psychology
 
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z93007



Joined: 01 Feb 2007
Posts: 6

PostPosted: Tue Aug 28, 2007 12:33 pm    Post subject: Question Reply with quote

Mr. Bigalow mentioend this in his omments:

"8/28 - Stock Market Comments

The NASDAQ, the S&P 500, and the Russell 2000 all formed a bearish haramis yesterday at their first trend line resistance levels. Anticipate more consolidation today with the pullbacks testing the 20 day moving averages and the tee lines. The stochastics are not in the overbought condition yet, so anticipate this is just more consolidation. "

My questions:

1 What is a "tee line"?

2. When is stoch considered overbought - above 80 only? (curretnly it is 73).

Thanks,
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Thu Aug 30, 2007 8:25 am    Post subject: Reply with quote

tee line is the 8 EMA.

Stochastics are overbought above 80.

73 could be considered overbought if the stochastics appear to be turning down.

Use the candles with common sense, and don't read into the candles more than it is... keep the emotions out.

Happy trading!
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Bronda



Joined: 21 Jul 2007
Posts: 1
Location: Czech Republic

PostPosted: Tue Nov 27, 2007 2:55 pm    Post subject: Reply with quote

Hi,
I read your excellent books and have a question.
- If I will see reversal situation in an up-trend where after white candle new candle opens near previous close (with small gap down - sellers entered the market with more force then in case of Dark Cloude Cover) and closes below previous open. This was not mentioned between signals. Can I evaluate it as something stronger then Harami - close is lower (and wait for confirmation in next selling) and something weaker then Kicker - open is higher (and also wait for confirmation in next selling) ??? Or am I wrong and this is not valuable signal? This situation I see very often. I trade intraday futures on 3min. timeframe. Thanks. Jirka
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