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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Sounds like he is talking about stocks. Stocks love to fill gaps after overnight futures' exhuberance leads to gapping at the cash open. The filling of gaps is like a glorious stop run to the "innocent", then the mkt reverses again. Price generally likes tidy housekeeping. Its when you get a parabolic move like the silver up move lacking any structure that the warning bells ring loudly. What's known as a run of "singles" in market profile terms. Its like if you build a house too quickly without observing structural engineering criteria, the house will likely fall down when you finished it. 100% retracement as I have often alerted whenever we see over exhuberance.
clear break and close above 4270 would signal more gains and challenge 4425 resistance... break above would signal drop from 4940 has ended...
as long as below 4270 expecting further drop b4 we see recovery...
gl/gt
work all night on a drink of rum..