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Monday, October 16, 2006 8:50:43 PM
a Descending Triangle - which is "typically" a bearish patern where the length of the breakdown is measured as the widest point in the triangle. I do, however, think the floor at .004 has a reasonable chance of holding.....so several weeks ago I opened a significant long position just above that point. If price falls below .004 on a closing basis (with volume) I will get out of my initial position with a very, very small loss.
You might also want to include the Chaiken Money Flow since you are using the daily chart. It turned sharply positive for the first time since about April-May and is currently holding flat.
All the best.
Chartist1
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