When 2846 hit and repelled the advance I was sure it would hold. Patience and understanding the rules for a retrace helped me hold off placing a bet. Momentum resistance is a good tool in determining market path. Wonder if anyone came up with a times scale to determine if current move is likely to be stopped and when. Combining momentum within a times range would be a powerful tool, if it exists.
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When 2846 hit and repelled the advance I was sure it would hold. Patience and understanding the rules for a retrace helped me hold off placing a bet. Momentum resistance is a good tool in determining market path. Wonder if anyone came up with a times scale to determine if current move is likely to be stopped and when. Combining momentum within a times range would be a powerful tool, if it exists.