Thursday, July 31, 2014 4:18:50 AM
I was watching that short term descending triangle too, but after observing that ridiculousness with the MFI last week, I had a feeling it was just being manipulated to rake across the MA (50) and scare retail and novices out. Had to talk a few of my home boys from scaring out. And as we saw yesterday and today, that MA (50) is pretty supportive. Seems Fannie wants to get her head above water again and trend the MA (50 ) up. I think no matter how our trading styles differ here, all owners of this will make big money one random morning. GL.
Current strategy- I mostly trade the daily chart-watch RSI/MFI push to 6.00, sell 33% at 6, sell rest when MFI goes above 80. Every days movement makes my strategy subject to change. I think the volume is coming.
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