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SP500: ESHO

March 12th, 2010, 1:03 pm2010-03-12T00:03:39ZF jS, Y, g:i a Arco Leave a comment Go to comments

I mentioned on the 4th “potential building for printing an Evening Star, although still 18 hours before candle end a more confirmation needed to be totally sure that a top is in.”

That pattern did not complete as you can see in the diagram below invalidating the Purple Trace. It always pays to wait for the completion of any candle pattern before considering a position. As you see once the candle closed it gave a completely different (bullish) picture with also an Ichimoku buy signal appearing – all 3 elements confirming (yellow spots).

Ichimoku buy signal appeared with the 3 elements confirming.

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