Sunday, July 22, 2007 3:16:32 PM
INXR / CHART
The MA 200 is the white dotted line on the Chart. Our breakout and run up was due to crossing above this resistance.
For any breakout of resistance it is common for the price to return to the broken resistance and test it as support.
I believe this is where we are at now.
The MA 200 Indicator has a very close relationship to the MACD 40,85 displayed below. IE - When/If the price begins to climb from the MA 200 support, the MACD 40,85 will be crossing the 0 line and pointing up. You can see on the chart below that it is pressed against the 0 line with the rising pressure.
Another way to think of this is "Filling the Gap" that was created on our breakout around the 9th of July.
We were expecting a close of 0006 to close the Gap but the rule states that the Gap must be filled by the body of a candle which appears to have happened on Friday.
From here we are watching the short term indicators for the pps to cross above the MA 5 - and - the MACD 2,4 to cross above 0. (A decending trend line across the highs can help spot the next upmove)
It may trade sideways for a few sessions but the close must hold above the MA 50/200 support area of .0006 until the buyers take over.
All JIMO and FWIW
The MA 200 is the white dotted line on the Chart. Our breakout and run up was due to crossing above this resistance.
For any breakout of resistance it is common for the price to return to the broken resistance and test it as support.
I believe this is where we are at now.
The MA 200 Indicator has a very close relationship to the MACD 40,85 displayed below. IE - When/If the price begins to climb from the MA 200 support, the MACD 40,85 will be crossing the 0 line and pointing up. You can see on the chart below that it is pressed against the 0 line with the rising pressure.
Another way to think of this is "Filling the Gap" that was created on our breakout around the 9th of July.
We were expecting a close of 0006 to close the Gap but the rule states that the Gap must be filled by the body of a candle which appears to have happened on Friday.
From here we are watching the short term indicators for the pps to cross above the MA 5 - and - the MACD 2,4 to cross above 0. (A decending trend line across the highs can help spot the next upmove)
It may trade sideways for a few sessions but the close must hold above the MA 50/200 support area of .0006 until the buyers take over.
All JIMO and FWIW
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