Thursday, May 24, 2007

Minor PPF of Support in Globex Session (08:48pm / S'pore Time)

09:32pm SHORT 1525.25 / STOP 1526.25
09:34pm Tightening STOP to 1525.50
09:35pm Stopped at 1525.50 / -0.25pts.
09:37pm That was a fake out that took me out. PRICE is heading past my original SHORT now - Really really frustrating!
09:39pm We are getting a PRIME PPF of Support & with the TREND Chart pointing up, a LONG could be setting up.
09:41pm Oops...An Oscillation change. Not too good for the LONG. Let's just see how it unfolds.
09:44pm Will be looking for SHORTs again.
09:51pm Okay, so much for that "potential" SHORT...We just made a Higher PRIME Resistance High on the TRADING Chart, and at the same time, confirmed the bottom of the down move at 1521.50 - KEY LEVEL to look out for is 1523.25 (Now the last PRIME Support on the TRADING Chart). PRICE must not come back down to breach this.
09:56pm Leg 1 of Bull Break ended at 1521.50
10:00pm The news release just shot PRICE higher...
10:01pm Let's see how far Leg 2 brings us...remember, Leg 1 of Bull Break started at 1535.75
10:03pm Whoa...This Leg 2 is on steroids !
10:11pm We have an Oscillation Match at 1532.50 on the TRADING Chart.
10:16pm We are now in PRIME Support. Will not be looking for LONGs anymore as the TREND Chart has turned down. Will look for a Minor PPF of Resistance (1532.50) to go SHORT.
10:19pm Interestingly, the SWING Chart has just turned up. This may complicate the direction of the trade I have in mind, which is a SHORT. Let's just take the trade with some caution.
10:20pm Man, the Minor PPF was sooooooo "minor" that there wasn't any chance to trade it at all ! Will see if we get a PRIME PPF Of Resistance later to go SHORT.
10:40pm Have been missing the Minor Oscillations to go SHORT. Not really sure if I'll be able to get a PRIME PPF of Resistance to for that long awaited SHORT - pardon the pun. LOL
10:44pm Looks like a Minor PPF of Resistance on the SWING Chart. PRICE is heading down to the test the TREND Line at 1521.00, which I've drawn on my charts.
10:45pm Today's a good trending day. The minor oscillation SHORTs, or LONGs would have been sufficient. Unfortunately, I have not profit from today's action...as yet.
10:46pm Leg 3 of Bull Break in Progress. 1523.25, which I mentioned earlier has been taken out.
10:56pm We just cleared the end of Leg 1 of Bull Break at 1521.50 - We are now on a BEAR TREND.
11:00pm With PRICE on the SWING Chart heading down to challenge last PRIME Support at 1496.00, it will be of interest to all if we fail or breach that Support.
11:04pm PRICE is deeply oversold. Do be cautious with SHORTs.
11:05pm Am looking for a Minor PPF of Support to go LONG.
11:08pm LONG 1521.75 / STOP 1520.75
11:10pm Queueing to sell at 1524.00
11:11pm Moving STOP to B.E.
11:14pm Stopped at B.E. - Thought the pull back would be a bit stronger. Should have taken the profit.
11:18pm Are we gonna see a PRIME PPF of Support, to signal the end of this current downmove?
11:19pm Nope! We broke through 1519.25. Leg 3 of Bull Break is still not done.
11:21pm Incidentally, PRICE also broke through the uptrend line on the SWING Chart.
11:28pm Possible 2 x Divergent Bottom on the TRADING and TREND Chart setting up.
11:35pm Looking for a LONG - 3 x Divergent Bottom on the TRADING Chart & TREND Chart has just turned up.
11:44pm LONG 1517.25 / STOP 1516.25
11:58pm Out at 1519.50 / +2.25pts.
12:26am We have a PRIME PPF of Support on the TRADING Chart - not confirmed though. TREND Chart is still pointing up, barely...Or we could just be consolidating between PRIMEs, before the next move...will see.
12:28am Stepping away for a while...gonna watch "PRISON BREAK 2", which I taped earlier.
01:29am Wow! Leg 3 is still not done. 3 X Divergent Bottom on the TREND Chart. A PRIME PPF of Support on the TRADING Chart would put a stop to the drop so far.
02:08am I'm done for the night...struggling to stay awake. 3 Trades. 1 Winner / 1 Loser / 1 B.E.

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