Replies to post #16415 on Cycle Trading

[NASARAVI]

Duma

Looking at TNA chart some of the indicators are down - price is holding above 10 ma - but 85 macd is flattening and stoch is below 80 and CCI below 100.

Are we done or we have one more up in TNA.

Thanks in advance.

[Y worry Murray]

Taking profits can be a problem but sure is a shame to give back >50%! I would be inclined to take at least 50% off on the close of the 1st bar back inside the BB 50,2. I have been using a BB 200,2 on my 15 min charts believing it to be the same as the BB 50,2 on your hourly charts. A bar closing outside the BB is an indication of overbought or oversold conditions and more reliable than the RSI in my opinion. But it indicates a condition which often relates to an initial impulse or an exhaustion move. It is usually not to difficult to determine which it is in relationship to the move or wave. I think the BB is one of the most dynamic indicators available.