Using the simple tool of the 5 minute candlesticks on the 2 and 5 day charts, coupled with the MACD for those candlesticks. Looking for double tops and bottoms to call the short term pivots. We just had two MACD tops (with the second one at 27), so that told me we probably wouldn't see a third.
And, when have you not seen a stock backtest its previous resistance?... always. So, it has to go back to 25 again and do it all over. This time, the the MACD will form a bottom at 25 and then another one at 27 (probably) to cause a run to 29-30.
It's just eyeballing, and I could be totally wrong.
Currently, I am 36 and still recovering from the dot com bust. But, I am determined to learn this game. It's mainly a psychological character building exercise.
Good luck everybody.
Work for myself basically as a 100% commissioned loan officer at a major bank doing mortgages at 5%. Easy gig, but not my dream.
Not in this for a porche or babes. Just want to pay off all my debt and build something for my kids. See ya.
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