Last Updated (Sunday, 05 December 2010 16:29) Written by Carl Weiss Friday, 15 October 2010 20:37
How To Use The WOW Index To Determine The Breakout of a Wedge
How To Use The WOW Index To Help Determine A Wedge's Breakout Direction
Markets contract into wedges which must eventually breakout either to the upside or the downside.
Wedges offer traders excellent short-term trades.
The WOW Index will frequently offer an indication which direction price will breakout.
If during the wedges tightest area of contraction, the WOW Index is predominantly green, price is more likely to break out to the upside.
If during the wedges tightest area of contraction, the WOW Index is predominantly red, price is more likely to break out to the downside.
