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Old 05-02-2008, 03:45 PM
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Re: Riding the Wyckoff Wave

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I don't know that I'd call it capitulation. Price is travelling from the extreme back toward a search for a "value area". There's one potential support area in yesterday afternoon's consolidation, which in turn sits on top of EOD consolidations during the previous two days, all of which means that there's loads of support between 1400 and 1410.
Thanks, I don't see this type of action very often, but I try to see if one can identify action which may repeat. ( and find trades there ) I know how good you observe Point taken.
erie