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Tuesday, May 29, 2012

BHP chart : a lesson not to short

Lesson 1 :
Stochs o/b reverse crossover.....
True it was an end to the wave at marked 1

But it was only a correction, back to the MA lines....

Would have taken a short position here, thinking there would be a deeper reversal....

Lesson : always let the first reversal sign go....

Lesson 2
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Double Doji.....reversal signal alert
Would have shorted


Lesson 3
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Morning star
Px out of triangular zone
Price/Stochs bearish divergence
Stochs (2nd time o/b)

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