Review of last night's trades. The back door bull break that I mentioned last night before logging off did not happen. We made an Oscillation Higher Low at 1429.25 at 01:20am. & then an Oscillation Higher High at 1440.50 at 04:13am. Until & when 1445.00 is taken out, we cannot rule out the possibility of the Back Door Bull Break.
If we fail at Resistance here, and start heading down to take out 1426.00 instead, then Leg 1 of the Back Door Bull Break would take place.
10:50pm Possible Minor PPF setting up here. Will go SHORT with a PF - TREND chart pointing down.
11:04pm Looks like PRICE isn't failing & TREND chart has just turned up.
11:05pm Another PRIME Match of Resistance, on the Trading Chart - Signs of weakness in penetrating the Resistance.
11:23pm Market is flatlined at the moment.
11:37pm SHORT 1438.50 / STOP 1440.50 - This STOP is special today. 2 Pts away.
11:40pm Be right back...have some business to attend to, in the ahem...Men's room.
11:49pm Ok...I'm back. Some Minor consolidation here. Oscillation PPFs in a row.
11:53pm PRICE tightening up. Don't want to be caught on the wrong side. Will exit this trade accordingly, when I start to see it going awry.
11:57pm Moving my STOP down to 1439.75
12.00am STOP 1439.75 / - 1.25pts. This kind of PRICE movement is terrible. It gives you failure, and it reverses back up again - "FAKE-OUTS"
12:03am Will attempt another SHORT, if the PF appears & hopefully I won't be conned again by these "fake-outs".
12:06am Another Match at 1440.50
12:10am SHORT 1439.75 / STOP 1440.50
12:23am First target 1438.25, followed by 1438.00 & then 1436.00
12:25am Of course, it must take out 1438.25 first. LOL
12:28am Moving STOP to 1440.00 - We have been in this 2 1/2 pt range for the last 1 1/2 hours! Something's gonna give...
12:40am This trade is really trying my patience.
12:46am 1436.00 is key, as this was the last PRIME Support. Whether we fail or pierce through, we shall see.
12:54am Out at 1439.00 / +0.75pts. Had enough of this.
01:35am SHORT 1438.25 / STOP 1439.25 - Attempting one last trade.
01:47am Out at 1439.50 / -0.25pts - Don't know why I even bother! The range tonight sucks!
3 Trades / 1 Winner, 2 Losers. G'nite all.
Wednesday, December 20, 2006
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