Monday, January 5, 2015

BPT MA Deluxe comments

Price close just above the ATR trialing stop indicator today, remember last week I mentioned how far price was above it, it was too far, now it's come back to it, will either act as support or slice through it.  However you can think of the ATR like a MA, when price gets too far from it, it will always be reeled back in.

a few other comments:  notice that the 60 stochastic closed just above 80%, the 80% area can act as a support level at times. Also the 14 RSI is near 40%, that's also an area to monitor.

again we have that open gap below as well, maybe we fill that then try to bounce, if not then will get uglier

No comments:

Post a Comment