DISCLAIMER: OPINIONS EXPRESSED ARE NOT TRADING RECOMMENDATIONS. ONLY THE INDIVIDUAL TRADER HIM OR HERSELF IS RESPONSIBLE FOR ANY MONETARY GAINS OR LOSSES THAT MAY OCCUR. PLEASE CONDUCT YOUR OWN DUE DILIGENCE. MARKET OPINIONS EXPRESSED ARE FOR ENTERTAINMENT PURPOSES ONLY. E SKEETERs ON THE STARTING LINE, 2004 NORTHWEST ICE YACHT REGATTA, LAKE KEGONSA, WI
Thursday, December 31, 2009
Year ends with 4 Day CP
The year ends with a 5 day TNA upchannel followed by a 4 day CP. Keel-billed Toucan, Belize
A CP is a consolidative period where the market is digesting its gains or losses. It usually lasts from 1-3 days but can be as long as 6 days. The market usually whipsaws, so profits on stocks held from the prior close should be taken by mid-day. Japanese candlesticks associated with CP days are usually dojis, spinning tops or hammers.
what does that mean?
ReplyDeleteA CP is a consolidative period where the market is digesting its gains or losses. It usually lasts from 1-3 days but can be as long as 6 days. The market usually whipsaws, so profits on stocks held from the prior close should be taken by mid-day. Japanese candlesticks associated with CP days are usually dojis, spinning tops or hammers.
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