Citigroup - 2 hour bars back to July high

361 1
The downward sloping trendline that I have drawn and placed arrows above the three touchpoints. I use the "HIGHEST LOW" to draw the line instead of the "highest high" in the rally. Why? Because that gives an earlier heads up when a turn is happening. Call it a "technical-tim-trendline", but otherwise it is an "internal trendline". The logic and the reasoning is the following: The earlier sellers should be more aggressive in the earlier part of a trend, so after rallies, the sellers should be there to drive the price back down. As the sellers back away and the buyers begin to take over, this method will pick up on the trend shift a bit sooner. The risk in a trade here is a drop back to $25 (-$1 or 4%) and the upside is to $28 (+$2 or 8%) from the $26 level now ($26.07 as of 1:04PM)
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
Citigroup reached the target +8% today at $28. If you wont sell, then raise your stop to breakeven or $27. $28-$30 is significant resistance. By: Technical TIm 6:01PM EST 10/11/11
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out