Friday, October 19, 2007

PRICE Still Heading Down?

09:35pm Need some clarity in the PRICE movements first, before deciding what to do...
09:41pm Will 1534.00 be breached...?
09:47pm Possible LONG Trade setting up.
09:54pm LONG 1537.75 / STOP 1536.75
09:55pm My, my...that was fast! Stopped at 1536.75 / -1.00pt.
09:56pm Will wait for PRICE to hit PRIME, before considering another LONG Trade. Don't want to get hit by another fake-out...
10:00pm Minor consolidations going on.
10:05pm And there goes 1534.00...
10:06pm Seeing a 4 X Divergent Bottom, on the SWING Chart...
10:13pm LONG 1533.25 / STOP 1532.25
10:19pm Playing a bit safe here...moving STOP to 1532.75
10:19pm Stopped at 1532.75 / -0.50pts.
10:21pm Looks like they were hunting for STOPs.
10:54pm LONG 1530.00 / STOP 1528.50
10:55pm Out at 1529.00 / -1.00pt.
10:57pm The downward pressure is just too strong.
11:24pm Looking for one last trade, before I call it a night...
11:25pm LONG 1526.50 / STOP 1525.50
11:27pm Let's see if this upmove is strong enough to challenge & breach 1529.50
11:31pm Out at 1527.50 / +1.00pt. The sudden PRICE drop to my entry point prompted me to take profit.
11:33pm PRICE is still not ready to find that bottom.
11:34pm Before I sign off, do take note that last PRIME Support, on the SWING Chart is at 1518.75 - Breaching this particular level would give us Leg 1 of Bull Break, on the SWING Chart.

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