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Friday, November 10, 2017 12:53:54 PM
Depending on the trading volume of a stock and on the volatility, you can use any chart period that works to pull out a clear picture. Sometime it's 1 minute. Other times 3 minutes. Or 5 or 10 minute and so on.
For this stock, I've found that 15 minutes & 26 minutes work well (There are 390 minutes in a trading day, do 15 minutes has 26 periods in it & 26 minutes has 15 periods in it). The 26 minute showed a clear hammer bottom on the 6th at 10:40 AM & the 15 minute showed a star/doji/quasi-hammer bottom on VERY telling volume at 9:45 AM on the 8th.
Those told me that the probes for bottom had spotted a bottom that was going to hold. The one on the 8th reached 3.05 and guess where the low this morning turned back up? 3.0493. BINGO!
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
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