Replies to post #43575 on The TradingEdge

[jxyzobrien]

short term traders
ew counts are not a great stand alone tool they constantly change

short term traders trade at very visual and simplistic levels

red line value area high and green va low which is way below todays action

so market gaps up and then trades sideways but uses value area high as
support so what happens

rally past ath highs to 5 min RSI 70 again very simplistic.
long term traders trend markets up or down and run over short term traders

so double top then sell to value area high
5 min RSI 30.

then rally near previous high do look above and fail