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Master Che
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I developed my own trading system, based on magnetism (physics) and velocity vectors...I find the center of the compression, and factor time with volume which determines the outward velocity vector (linear expansion) thereby predicting price and time. I have a market update service and I manage... More
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  • BAC 3 comments
    Jan 27, 2012 2:29 PM
    BAC:

    Immediately down to 7.05

    At 7.05 expect a decent bounce

    If the bounce fails to trade above 7.20

    Then down to 6.80

    On the move down to 6.80; if it marginally trades below 6.80, it then drops quite a bit down to 5.59 down extension (5.38)

    5.58 is the support anchor, below it and new lows

    therefore the bounce at 7.05 is extremely pivotal

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  •  
    "Immediately down"? What time frame is immediately? It has rallied since this post.
    27 Jan 2012, 02:55 PM Reply Like
  •  
    at 7.33/7.34 it should begin the move back down
    27 Jan 2012, 03:08 PM Reply Like
  •  
    Ok - you were dead on accurate on these levels. On 1/27, it did get up to 7.33. Then on the next trading day, 1/30, it hit 7.02 before a bounce up (to 7.19) today.

    Will be interesting to see if the followthrough to 6.80 occurs next.
    31 Jan 2012, 04:33 PM Reply Like
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