Pre-Market Observation. It looks like PRICE is still heading down. No signs of a Minor PPF, to give us a Minor Confirmation of a bottom. Let's see what the regular session has to offer.
10:39pm No trades taken. Still watching.
10:51pm Okay. We may be seeing a Minor Confirmation of a bottom here. Wait for a Minor PPF of Support to go LONG. TREND Chart has also turned up.
11:05pm LONG 1430.00 / STOP 1429.25 - Minor PPF of Support, with PFs, and with TREND Chart pointing up. This LONG has to clear 1431.25
11:08pm Moving STOP to 1429.50
11:10pm Out at 1430.25 / +0.25pts. Minor PPF of Resistance, with PF.
11:12pm Hmmm...a good "fake-out". In any case, let's see if I can get another LONG entry.
11:14pm LONG 1431.50 / STOP 1430.50
11:16pm Out 1432.75 / +1.25pts
11:17pm We now need a PRIME PPF of Support, on the Trading Chart, to give us the PRIME Confirmation of the bottom. If not, and instead, we get a Minor PPF of Resistance, and the TREND Chart starts to turn down again, then that means PRICE is still heading down. Let's observe.
11:23pm Another LONG? Let's see if we get a PF.
11:24pm Nope. A false signal.
11:26pm LONG 1432.50 / STOP 1431.50
11:28pm STOP 1431.50 / -1.00pt - Got tricked there by the "fake-out"
11:31pm A LONG is still valid. PRICE hasn't failed yet.
11:38pm Putting a Buy STOP at 1433.25
11:42pm Removing the Buy STOP. We ended up with a Match Oscillation - WEAK. If we get a Minor PPF of Resistance, will go SHORT.
11:56pm PRICE didn't fail & no Minor PPF of Resistance, but instead a Minor PPF of Support. LONG still valid. I completely missed it as I was busy typing an email...
12:23am We have hit PRIME on the TREND Chart. Not a good sign. If we start to fail Resistance here, and start to go back down to challenge today's session low of 1326.50 and clear it, we would then see Leg 1 of a Back Door Bull Break.
12:48am SHORT 1431.00 / STOP 1432.00
12:50am STOP at 1432.00 / -1.00pt. - Got fooled again.
Done for the night. 4 Trades / 2 Winners, 2 Losers.
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