...which makes it that much more interesting that we are testing a round psychological level like 1,200 as a channel top.
Comments
HumbleTraders
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Will it break to the upside? Peter Schiff would love that!
likebike
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John, I have always wondered why you like to use the Consecutive Candle Count indicator -- one of the most primitive indicators that exist. In the context of this post, it's clear that you're using it to pick the end of the recent up-move. But I'm wondering -- is there a deeper meaning that you read from it? Does it help you visualize changes in supply and demand? Does it help you detect changes in underlying fundamentals/sentiment? ...Or do you just use it to estimate the probability of continuation for another day?