Had some issues with the blog around 01:30am yesterday, or rather early this morning. Couldn't access it to do editing. Thus, the reason for the abrupt end to the posting (and my episodes to the loo) last night. Will post my review later, once my charts are up.
Review of last night's trades. After my last post at 01:18am, PRICE continued it's downward move, but stopped short of the mentioned target of 1367.25 (it only hit 1368.50). There were a series of Oscillation PPFs on the TREND chart, thus giving us some consolidation. However, the high of 1373.75 at 12:23am puts us in PRIME on the TREND chart. From the look of PRICE movements at the close, it is very likely that we are still heading up, until we encounter a failure. Look for PRICE to challenge 1372.75 first, then followed by 1373.75 (both in pre-market).
09:05pm As observed in this morning's review, we see PRICE clearing 1372.75, and then matching 1373.75 (pre-market activity) - PRICE movement still indicating a upward bias (of course, with pullbacks). No signs of failure yet.
09:30pm A few reports out. Increased Volatility. Thus it's always best to stand aside, especially when it comes to important reports. ISM Services is coming out at 11:00pm.
10:36pm No Trades yet. Just watching.
10:41pm Remember, ISM Services Report out at 11:00pm - Best to be flat when that time comes. Will go SHORT if a failure of Resistance of 1377.25 happens.
10:46pm SHORT 1375.75 / 1376.50
10:49pm Out 1373.75 / +2.00pts
10:52pm Remember, TREND is still down. LONG pull backs (to give lower highs), and to SHORT (to give lower lows)
10:55pm My earlier short was due to a Minor PPF of Resistance. Would like to see a PRIME PPF of Resistance to confirm the down move to challenge 1367.25 on the TREND chart. In the meantime, I will stand aside. ISM Services report is at 11:00pm
11:04pm The ISM Report brought this baby back up into PRIME. Will this be the PRIME Confirmation of Resistance, to go SHORT? Looking for PFs to go SHORT. TREND chart still heading down.
11:07pm SHORT 1374.50 / STOP 1376.00 - First target 1372.75, followed by 1371.00
11:11pm Moving STOP to 1375.25
11:13pm Lost Data feed for my charts...
11:15pm Stopped at 1375.25 / -0.75pts - The lost connection cost me this trade. As there was a failure of 1372.75 - Just one of those things that happen...
11:22pm Downward bias - until I see a change.
11:26pm SHORT 1374.00 / STOP 1375.25 - Earlier targets mentioned still valid.
11:30pm First target met. Second?
11:31pm Moving STOP to B.E.
11:33pm Cautious here. A pullback on the cards?
11:34pm Second target met.
11:35pm Out at 1371.00 / +3.00pts
11:41pm Waiting for next SHORT signal. Next Target 1369.00, followed by 1368.50 and 1367.25
11:47pm Sell STOP 1370.25
11:53pm Cancel Sell STOP.
12:23am 1369.00 target met.
12:25am 1368.50 target met.
12:28am No trades since last at 11:26pm. Will retire to bed soon. Had a long day.
Friday, November 03, 2006
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