Review of last night's trades. We came really closed to reversing the Bull Trend. The night before saw PRICE printing a higher PRIME Support low & a higher PRIME Resistance high. Yesterday, that higher low (1394.00) was threatened as PRICE went to a PRIME low of 1395.50. That was really close. Now, the new PRIME Support on the TREND chart is 1395.50 & the new PRIME Resistance is 1408.50. Again, in order for the Bull Trend to continue, we must make a higher high, and a higher low, using the 2 points mentioned as reference.
10:34pm If I see a PPF here on the Trading chart, I will go SHORT -Cos I already missed the PRIME PPF at 1406.50 during Globex Trading Hours.
10:38pm SHORT 1403.50 / STOP 1404.50
10:41pm Moving STOP to B.E.
10:46pm Stopped at B.E. Moved my STOP too soon. Should also have moved STOP to 1404.75 - 0.25 above last oscillation high.
10:48pm Consolidation.
11:01pm My, my...would have been a great SHORT. Sometimes, I tend to move my STOP too soon.
11:25pm Leg 1 of Bull Break in progress. As posted this morning, last PRIME Support on the TREND chart is 1395.50. Last printed PRICE low was 1395.25
11:28pm Possible 4 x Divergent Bottom - Nope.
11:42pm PRICE still heading down. No failure as yet. Done for the night. Have got a long day tomorrow. 1 Trade / B.E.
11:44pm LEG 1 of Bull Break in PROGRESS.
Friday, December 01, 2006
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