Another ABC pattern...
this was another ABC pattern.... note that you don't know how far the B to C leg of ABC will go up.... you have to remain open to the possibility that it COULD rocket higher... you can't just short every ABC... in this case though, look how the ABC up found resistance at the 15-min 20ema amid a very bearish day... when it starts down off this, I think its worth a shot. Not at full size but ABC up is just a great pattern if you think you have a good reason that trade location is also good. Not a pristine set-up but worth reviewing I think:
http://bp1.blogger.com/_5h-SWVGx6Ms/...ne+22+2007.bmp