Monday, April 09, 2007

A Positive Post Holiday Opening

09:34pm No matter the positive...A SHORT set-up could well be brewing.
09:43pm Looks like I missed the Minor PPF to go SHORT. Will see if a PRIME PPF occurs, to give us another Shorting opportunity - Reason for this SHORT is that there is a 2 X Divergent Top, on the TREND Chart, and as well as the TREND Chart turning down in PRIME.
09:54pm Here's the pullback I am looking for...Reaching PRIME soon.
09:56pm Almost there...in PRIME.
09:57pm PRIME. Now let's look out for PFs to go SHORT.
10:05pm SHORT 1455.25. STOP 1456.25. This SHORT HAS to take out 1454.00.
10:09pm First possible target is for PRICE to challenge 1452.00.
10:10pm PRICE is now in PRIME. Will take profit...cos' a slight pullback may take place first.
10:12pm Out at 1453.75 / +1.50pts.
10:22pm Here's the pullback. Coming much later than expected.
10:31pm TREND Chart still pointing down. SHORTs are still valid.
10:39pm Still waiting for a real PF (Price Failure), and not a "fake-out"...
10:44pm Looks like this one's going back to PRIME, to challenge last PRIME Resistance at 1456.25.
10:45pm Oops...I spoke too soon. A possible PRICE failure in the making...
10:50pm Looks tricky here - a possible change in set up. Will monitor the PRICE movement first, before taking the next step.
11:04pm We are in PRIME Resistance. Will PRICE fail here? - Ah! A PRIME Match at 1456.25 - at the moment.
11:51pm SHORT 1454.75 / STOP 1455.75
12:02am Moving my STOP to 1455.50. If PRICE is to head lower, now is the place to do so...If not, I will adjust my STOP accordingly.
12:06am Moving STOP again...to 1455.25
12:07am Stopped at 1455.25 / -0.50pts. Glad that's over...was getting uncomfortable with the trade.
12:11am Gearing myself for a LONG.
12:12am LONG 1455.25 / STOP 1454.25
12:38am Really slow, but at least it's going in the right direction...
12:40am PRICE is heading back up to challenge 1459.00
12:44am Out at 1457.00 / +1.75pts.
12:47am I'm done for the night. 3 Trades. 2 Winners / 1 Loser.

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