Friday, March 23, 2007
Consolidating With A Next Move In Mind
The ES was basically in consolidation mode yesterday, as shown by the 2 Oscillation PPFs (TREND Chart) that occurred half-way & through to the close of last night's session. My 2 LONG Trades were unfortunately, caught in it. PRICE still needs to head back down to give us a Higher Low, on the TREND Chart. However, this may not happen, until much much later. PRICE may just consolidate & head higher first (without even going down to challenge PRIME Support). Going into the close of the session, we have 2 PRIME PPFs on the Trading Chart - CONSOLIDATION. Will need PRICE to Breach Support or Resistance to show us its next move. We trade PRICE & We trade from Strength.