Tuesday, July 31, 2007

Globex PRICE Action: Leg 1 of Bear Break

08:12pm Just stepped into the house & saw 1488.25 breached. This effectively gives us Leg 1 of Bear Break, on the TREND Chart.
10:05pm Looking for a LONG trade here.
10:10pm LONG 1493.50 / STOP 1492.50 - Let's see if this turns out to be an early entry...
10:13pm Stopped at 1492.50 / - 1pt. Got hit by that PRICE spike...not sure why this sudden spikes are appearing now...news release has already been out.
10:14pm Yep...early entry.
10:19pm TREND Chart's indicator just turned down...that's the reason for the sudden drop.
10:24pm Confirming end of Leg 1 of Bear Break. PRICE is now heading down to challenge last PRIME Support at 1455.25, on the TREND Chart, hopefully to end Leg 2 of Bear Break, above the said level.
12:08am Leg 2 of Bear Break ended at 1480.25 - We are now in Leg 3 of Bear Break.

No comments: