Review of last night's trades. Leg 1 of the Bull Break ended at 1378.50 during Globex hours. That confirmation came at 1380.25 on the Trading & TREND charts. We are still continuing the up move as there is no sign of this Leg 2 failing yet.
In order for Leg 2 of the Bull Break to succeed, it must not breach the recent high of 1411.25. Instead, it must come back down to breach 1378.50 to give us Leg 3 & then confirm the 3 Leg Bull Break.
10:16pm As pointed out in this morning's post, " we are still continuing the up mover ". Still no signs of failure, as yet.
10:54pm Still no trade. Am cautious going LONG as we are now in PRIME on the TREND chart.
11:04pm TREND chart has just turned down. Looking for a Minor PPF on the Trading chart to go SHORT.
11:05pm No can do. PRICE made a higher high, on the Trading chart.
11:11pm 3X Divergent Top in the last 5 mins...Considering an Aggressive SHORT here.
11:13pm SHORT 1397.75 / STOP 1398.75
11:15pm This SHORT has to at least take out 1397.50, then followed by 1396.50
11:18pm The PRICE spike at 1398.50 nearly took me out. Still not out of the woods yet.
11:2opm Stopped at 1398.75 / -1.00pt. Was an Aggressive Trade, after all...
11:32pm SHORT 1397.50 / STOP 1398.50
11:34pm Moving STOP to 1398.25
11:42pm With TREND chart turning down, and a possible Minor PPF on the Trading chart, I am moving my STOP back to 1398.50
11:58pm Out at B.E.
11:59pm PRICE refuses to go lower. Will consider a LONG.
12:05am Here we go. The signs were clear. PRICE just didn't want to "print lower".
12:06am If I don't get another signal (whether LONG or SHORT), I will call it a night.
12:53am Calling it a night. Market has slowed down due to lunch time. 2 Trades / 1 Loser & 1 B.E.
Wednesday, November 29, 2006
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