Wednesday, July 18, 2007

A Rebound On The Cards...?

09:35pm If we get a PRIME PPF of Support, I'll start to look for LONGs - TREND Chart indicator is up.
09:37pm Minor PRICE consolidation going on right now. Waiting for a clearer signal.
09:42pm No PRIME PPF of Support.
09:45pm Going LONG with a Minor PPF of Support.
09:48pm LONG 1555.25 / STOP 1554.25
09:49pm Will hold on to this trade for a while - TREND Chart indicator still up, confirming PRICE's up move. Next PRICE target is 1559.50
09:54pm Moving STOP to 1553.75
09:56pm Stopped at 1553.75 / -1.50pts. Of all times, it has to do a PRIME PPF of Support now! Just when I decided to take a LONG. Aaarrgh!!
10:01pm Release of data - Staying out until it stabilises.
10:07pm Strange - it wasn't release of data. Wonder what caused the erratic PRICE movements just now.
10:09pm It looks like Leg 1 of Bull Break is still not done. If we get a PRIME PPF of Resistance, a SHORT will be setting up. I may not even wait for a PRIME PPF. A Minor will do...
10:24pm The timing is too closed to the release of the Crude Inventories - especially so when crude prices have been rising steadily recently. Will stay out for the moment. Don't want to get whipsawed.
11:05pm LONG 1550.00 / STOP 1449.00 - Counter-TREND Trade.
11:09pm Out at 1551.25 / +1.25pts.
11:21pm Another LONG setting up. Possible end of Leg 1 of Bull Break.
11:22pm A BUY STOP at 1550.75 - Provided PRICE does not head below 1549.25
11:25pm LONG Triggered at 1550.75 / STOP 1449.25
11:26pm This LONG has to clear 1553.25, to confirm the end of Leg 1 of Bull Break.
11:28pm Aw...looks like an early entry. Stopped at 1449.25 / -1.50pts.
11:29pm I'm done for the night. 3 Trades. 2 Losers / 1 Winner.

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