Special Consultant to the FPA
What about the "stretched" 4Hour overbought?
As I remember, we've discussed this on Tuesday - that market didn't totally respect it - it forced market deeper, but then has shown pullback.
In general Stretch is a bit rubber pattern - overbought or oversold is putting market in opposite direction, but when market is really strong - it could force against it.
Hi, Ike,Thank's Steve.
Youre analysis is awsome.
I've watch you for some time know and i have to say you are briliand.
Ps I read on the net that Di Napoli book is not that ease to read.
Do you think a guy with not mutch education like me can do that.
My english is poor as you can see.
Any way i really wanted to thank you for everythink you do for as and God bless you and your's.
well, try to find book on your own language, I suppose that it has been released not only in English. You can do that - all that you need to start, is just undertand some elementary things - what Moving average is, Stochastic, MACD, RSI. What is support and resistance. IF you understand it - you can start with DiNapoli book. But usually, it needs to pass trhough it not just once. (I've re-read it at least 3 or even 4 times). Because there is a very high densitiy of information there.