AI
Wednesday, August 12, 2009 2:11:02 PM
The goal during consolidation is to stay at or above the EMA(7) line which changes in price throughout the day. If we close above that today at .07 or higher the daily chart would be nice still for continued consolidation or a chance at an uptrend. Just study the previous consolidation periods, we want to mimic them.
EMA(7) defines our 7 day trend and right now it is in need of a push back up. PS the reason why we need to stay above .06 is just to not touch the EMA(21). The further above that we stay, the better the long term uptrend will stay in shape.
in my cats opinion
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