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Chicago Traders Group Message Board › INFY short and bounce

INFY short and bounce

Dean R.
user 12015683
Chicago, IL
Post #: 3


I'm using the image upload/phot album feature link on here, so I'm hoping this works. it looks a little dreary.

Today INFY. I was fortunate to get a short at 70. But the real beauty is finding a high probability bottom/bounce with multiple time frames.

First, you'll see a 5min chart. The big red line it hits exactly is a S4 pivot point, calculated classically. The classic and woodie S4 and R4 pivots are the most common stopping points for bleeders and runners. Then it gets over sold on a 5 period RSI below 10%.

Then, over to the daily chart, where 68.11 happens to be the 20period ma. (hard to see the little price tail in these pics). Strong stopping power gives one profitable .90 bounce with about a .15 stop.
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