the days not over but there is a bearish railroad pattern on
Copper futures with a target of $4.18, I've highlighted other RRTs
on this chart and you can see they have all gotten filled.
lenght of the track added to the direction gives target.
You need a bar chart then the price opens and makes a big move,
then then next bar moves back 80% or more of the first bar. Simple
price rejection. Called Railroad Tracks to No Where.
RRT copper
Posted by ditch on 27th of Apr 2011 at 10:29 am
the days not over but there is a bearish railroad pattern on Copper futures with a target of $4.18, I've highlighted other RRTs on this chart and you can see they have all gotten filled.
http://screencast.com/t/9VltIN913Q
Thanks Ditch...taking a short on
Posted by klatuu on 27th of Apr 2011 at 11:42 am
Thanks Ditch...taking a short on copper futures?
Does look like 4.25 is giving way after holding on a few tries...
Posted by lessarda on 27th of Apr 2011 at 11:47 am
I see you mention the
Posted by oops1e on 27th of Apr 2011 at 11:17 am
I see you mention the RRTs often. How do you measure the target? Thanks.
lenght of the track added
Posted by ditch on 27th of Apr 2011 at 11:21 am
lenght of the track added to the direction gives target.
You need a bar chart then the price opens and makes a big move, then then next bar moves back 80% or more of the first bar. Simple price rejection. Called Railroad Tracks to No Where.
Thanks Ditch! Keep the posts
Posted by oops1e on 27th of Apr 2011 at 12:17 pm
Thanks Ditch! Keep the posts coming!