Tuesday, April 10, 2007

Another Tight-Ranged Day

I guess the long Easter Weekend was a good time for many traders to unwind but it sure took its toll on last night's trading. It didn't look like many were back at their trading desks.
With the tight 5 point range, all I could muster from my 2 profitable trades were between 1.5 to 1.75pts.

Trading Chart
Going into the close, PRICE was still consolidating (Back to back PRIME Breaches, with no PRIME PPF in sight. as yet). It is in this type of PRICE movements that one can be caught in the wrong direction of the trade.

Oscillation PPFs (Consolidation) but with a need to challenge last PRIME Support (1418.25), to create a Higher Low (HL), so that PRICE can move higher, we could well see that happening tonight - as the Swing Chart has started to turn down.

Swing Chart
Has started to turn down, and PRICE will be looking to challenge last Oscillation low of 1444.75 at least. Last PRIME Support is at 1418.25.

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