The Chart above is of Extension Targets after last weeks consolidation and move up..The Footprint coming from Andrews Pitchfork is quite clear..Take trades accordingly..4680- 4700 around zone can again be resistance zone cross of which can take us all the way to 4900 & above..A close below 4500 may not augur well for the Markets so keep 4480-4500 in close as SL for longs..Enjoy the weekend..cheers.Saturday, August 22, 2009
FOOT PRINT AHEAD
The Chart above is of Extension Targets after last weeks consolidation and move up..The Footprint coming from Andrews Pitchfork is quite clear..Take trades accordingly..4680- 4700 around zone can again be resistance zone cross of which can take us all the way to 4900 & above..A close below 4500 may not augur well for the Markets so keep 4480-4500 in close as SL for longs..Enjoy the weekend..cheers.
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Andrews pitchfork( you can google search for learning this also) is a method to find out the resistances and supports from markets previous footprints using 3 points ..so is the extension targets..we use the last major low/high/low to find targets ahead..hope this explains and helps..cheers
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