Leg 3 of Bear Break !

Review of last night's trades. Wow! What an afternoon session...My last trade, which eventually went down to challenge 1382.50, only managed a Match in PRICE - and this means weakness in the down move. There was quite a bit of consolidation going on, from the point we headed into lunchtime. The action started sometime after lunch, where two PRIME PPFs presented themselves on the Trading chart. The minor PPF at 03:06pm with a PF at 1386.50 would have been the perfect LONG - taking into consideration that the TREND chart had started to point up.

We have officially completed the 3 Legs of the Bear Break.
High of Leg 1 of the Bear Break: 1393.00
Low of Leg 2 of the Bear Break: 1380.25
High (not confirmed "High" as yet) of Leg 3 of the Bear Break: 1393.25

Being an Intraday trader, I do have to take whatever opportunities that present itself. Though it may seem that I may be contradicting myself by so-call "trading against" the TREND (especially when the methodology I learnt looks at PRICE, in the direction of the TREND), it is because of certain rules that I have been taught and understand of Intraday trades - of which I am not at liberty to discuss or reveal on my blog (due to non disclosure terms I have signed with my Mentor). Remember, I am NOT Swing Trading. So, I need to take whatever there is, that the market gives, but with certain rules in mind, that will ensure my success in that trade.

10:07pm A couple of reports due out tonight. No trades, until we get these reports out of the way.
10:42pm This SHORT signal looks too good to ignore - A Minor PPF on the Trading chart, with the TREND chart just turning down.
10:47pm Still Watching...
10:48pm No trade. PRICE made a higher PRIME high & TREND chart turned up again. The higher PRIME high is pretty weak(B-PPF).
11:09pm SHORT 1389.75 / STOP 1390.75
11:13pm First Target for this SHORT - 1386.25
11:19pm Still holding on to the SHORT
11:22pm Out at 1388.50 / +1.25pts
11:23pm Still no sign of a bottom to this down move. TREND chart sill pointing down - not reaching PRIME yet.
11:33pm A bottom to this down move in sight? Let's see if we get a Minor PPF on the Trading chart.
11:37pm Waiting for the LONG signal. PF just happened.
11:38pm LONG 1389.00 / STOP 1388.00
11:40pm First target 1390.25, followed by 1390.50 & then 1391.25
11:43pm Oops...slight failure spotted. Will get out first.
11:46pm Out at 1389.50 / +0.50pts - First 2 targets (mentioned at 11:40pm) met, except for the last one.
11:55pm LONG 1390.00 / STOP 1389.00
11:57pm Protecting earlier profits. Moving STOP to 1389.50
11:59pm Moving STOP to B.E.
12:02pm Out at 1390.75 / +0.75pts - Last target (mentioned at 11:40pm) also met.
12:06pm Retiring to bed early tonight. It's been a long day.
3 Trades - 3 Winners.