Tuesday, November 11, 2014 1:13:10 PM
ANR
If it doesn't bounce before reaching 61% FIBs retrace, walk away. If it does, IMO don't re-enter until top resistance is broken.
The more FIBs lines crossed on the way down, the harder it is to reach top resistance again. They become support/resistance in a flag pattern.
Also remember you always want to see increasing volume interest, in a climbing stock.
If it doesn't bounce before reaching 61% FIBs retrace, walk away. If it does, IMO don't re-enter until top resistance is broken.
The more FIBs lines crossed on the way down, the harder it is to reach top resistance again. They become support/resistance in a flag pattern.
Also remember you always want to see increasing volume interest, in a climbing stock.
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