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Northern Illinois | I think the Island Bottom formation we can see today in conjunction with the gap on 11/05 is a chartists dream. This is the type of chart that will go in textbooks or trading publications as an example of an Island Bottom. I do not trade natural gas but I would look at todays action twofold. 1. It shows the importance of having orders in place so a person is proactive and not reactive. 2. In the bigger picture I view all formations as a place to put a stop loss. I think that where a person exits a position is more important then when they enter a trade. | |
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N. Gas
