Wednesday, May 02, 2007

PRICE on Swing Chart in PRIME, and has turned up

04:39pm Globex PRICE movement looks pretty strong...and with PRICE turning up on the Swing Chart, there is the possibility of Leg 1 of Bull Break being invalidated - it has happened before.

09:37pm SELL STOP at 1494.25
09:46pm PRICE went higher. Removing SELL STOP.
09:57pm BUY STOP at 1497.25
09:58pm BUY STOP triggered. STOP at 1496.00
10:05pm Out at 1499.00 / +1.75pts.
10:37pm Leg 1 of Bull Break in danger of being invalidated (as warned in this afternoon's posting at 04:39pm).
11:01pm LONG 1502.50 / STOP 1501.50
11:03pm Stopped at 1501.50 / -1.00pt. What a time to have a Minor PPF of Resistance.
11:15pm Will be looking for another LONG trade set up.
11:23pm Placing a BUY STOP at 1502.25
11:35pm Removing BUY STOP - PRICE went lower.
12:22pm BUY STOP at 1502.75 - This is in anticipation of a Break-out.
12:30pm BUY STOP triggered. STOP 1501.50
12:35pm Aw...PRICE Match. Moving STOP to 1500.75
12:38pm Argh ! Stopped at 1500.75 / -2.00pts. That PRICE match caused my "break-out" trade to fail. At this moment, PRICE has yet to fail. This is just a pullback. I believe there will be another break-out attempt. But for me, it's time for bed. Have to send my sis & her family off at the airport bright & early tomorrow morning at 7am.
Safe trading and always, always put in your STOPs. 3 Trades. 2 Losers / 1 Winner.

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