Consolidation

Action was rather slow last night. So slow that I closed out early! My PC, that is...LOL. We are basically consolidating at the top. The chart pattern failed but PRICE still managed to claw itself back up.
Remember, if PRICE is to continue higher, an ideal situation would be for it to challenge last PRIME Support (1423.25) on the TREND Chart, for it to push higher in the next couple of days. A challenge does not mean that PRICE has to head all the way back down. It simply means that as PRICE moves down, we need the TREND Chart to start hitting PRIME territory. That's all. And the moment we get a confirmed failure in the downmove, the expectation would be for PRICE to head back up to challenge last PRIME Resistance, and hopefully, give us a new PRIME Resistance.

And BTW, in my desire to encompass other forms of trading, I've also started a forex & a options trading blog. For these two blogs, they are geared more towards gaining knowledge, at this point in time. Do drop by to have a look:
http://forex-trade101.blogspot.com/
http://options-trade101.blogspot.com/


Rosalind's Home-Made Pineapple Tarts
Lastly, just a side-track...My mom has over the many years, sold her Home-Made Pineapple Tarts, through word of mouth, during the Chinese New Year period. It has been very successful and we realised that the sale of these tarts shouldn't be just restricted to Chinese New Year.
As such, we are trying out a "pilot idea" to offer her Home-Made Pineapple Tarts anytime, throughout the year. If you want to find out more, head over to http://rosalinds.blogspot.com/
We are still in the infancy stages of setting up the blog, so if you need further details like pricing or sample tasting, do drop me an email at gerimegaly@yahoo.com.sg, or my wife's email at geriseet@yahoo.com, telling us your request.


10:57pm SHORT 1453.75 / STOP 1454.75
11:05pm Out at 1452.75 / +1.00pts. Had to get out. PRIME Match on the Trading Chart.
11:06pm SHORTs are still valid.
11:08pm SHORT 1453.00 / STOP 1454.00
11:11pm Moving STOP to B.E.
11:13pm Out at 1452.25 / +0.75pts. Decided to take profit.
11:36pm SHORT 1452.50 / STOP 1453.50
11:41pm Moving STOP to 1453.25
11:47pm Out at 1451.75 / +0.75pts
11:52pm Again, SHORTs are still valid. Am SHORTing on pullbacks. PRICE has not failed going down yet - TREND Chart is also down.
11:55pm Didn't take that SHORT. Am quite done for the day. My day job has been keeping me rather busy the last two days. Feeling the tiredness earlier than usual. Signing off now... 3 Trades. 3 Winners.