looking on to next week
flat lining with overhead horizontal resistance
horizontal support going down to 1250 area
1 month data shows an uptrend a down trend and the beginnings of a new uptrend/aqua
box size is $3 by 2 reversal ie $6 and you get a change of column
hilo plot...this seems to show the trends better
4 hour data
we will go down to lower box settings to pin point the decent areas where we can trade from
so to find res areas /possible pivots
gone down to 60 min data
$3 by 1 reversal using the close plot
we have prev supp...could be res at 1308
trend res/purple at 1302
trend rs/red at 1296
horizontal res/breakout point at 1290..horizontal
hourly data still
by going to 3 box reversal..it reveals alot more information
note prev supp/breakout point at 1308 area..horizontal purple
a 50% area /white horizontal at 1290 area..more like 1292
trend support /green at 1269 area
horizontal at 1260 and 1250 areas
1310 is trend res area/red
1330 area purple trend res
as it is a 3 box reversal..these are the preferred areas
news should dominate the major price action
a much better veiw of that move down
15 min data
box size is $2.5
by 1 reversal
the whole move had 3 minor downtrends
supp and res areas are easily picked off from this chart
http://www.elitetrader.com/vb/attachment.php?s=&postid=3895882
that hns played out, that was a 90 day chart, on a 60 day that nip is a little lower 1252-47,those ledges are resistance to get through starting with 1267 to get back to 1284 area, we may have to tag that 1252- 47 nip 1st for a little more buying fire power for a bouince
