Friday, June 22, 2007

Yesterday's Market Action Show That Leg 2 of Bull Break Is In Progress, on the TREND Chart

The ES made a bottom at 1518.00 at 10:03pm, S'pore Time. From that point onwards, the first glimpse of a Potential LONG was the Minor PPF of Support (TRADING Chart) that occurred at 1521.75 at 10:13pm, S'pore Time. My SHORT Trade was ideal, if not for that "fake-out" that shook out my STOP and went down in the direction of my trade.
Going into the close, PRICE is heading back up to challenge last PRIME Resistance at 1554.25. And in order for Leg 2 to be complete, PRICE must fail at 1554.25, and then head back down to breach (create a Lower PRIME Low) last PRIME Support (end of Leg 1 of Bull Break) 1518.00, in order for the 3 Legs of the Bull Break to be complete, and change the Bull TREND, to a Bear TREND (TREND Chart Basis).

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