8000 Incorporated (EIGH)

[hfields]

60min chart pincher forming...

60 min eigh chart:

pincher forming here...the ppo and adx are starting to pinch together...for those who are unaware of this phenomenon, it is a bullish reversal signal if it stays true, and many traders jump in on pinchers...could start the next uptrend...not saying it will, but it could...we will see...

the two indicators actually pinch together as a result of "selling" pressure...the adx red is moving up and the ppo is moving down in oversold territory...when they pinch together, many times this is a "bottom" signal and a bullish event occurs afterward....

the macd can also be used in place of the ppo...enjoy!