Friday, October 12, 2007

TREND Chart: Leg 2 of Bull Break in Progress

10:30pm Waiting for a possible end in this current upmove, to end Leg 2 of Bull Break, on the TREND Chart.
10:32pm Signs of weakness in the upmove - Oscillation Match at Resistance, 1570.75
10:36pm TREND Chart indicator has turned down. Looking for a Minor Failure of Resistance on the TRADING Chart, to go SHORT. Still have to be careful with the SHORT, as the SWING Chart is still pointing up...
10:39pm PRICE is now in PRIME - Looking for that pull back, to go SHORT.
10:49pm SHORT 1567.50 / STOP 1568.75
10:54pm Closed one but still not out of the woods...PRICE is still not breaking down. Will leave the STOP there. First target for this SHORT is 1564.25
10:57pm PRICE isn't behaving to plan...moving STOP to 1568.50
11:00pm Knew this was gonna happen, especially when PRICE just didn't want to go down. Stopped at 1568.50 / - 1.00pt.
11:01pm We may get a PRIME PPF of Resistance to go SHORT again. Let's see...
11:07pm Looks like Leg 2 of Bull Break is still not done.
11:09pm With PRICE on the SWING Chart in PRIME and turning up, it would be interesting to see if PRICE goes higher instead, and invalidates Leg 1 of Bull Break, on the TREND Chart.
11:19pm TREND Chart indicator has turned up. A possible cautious LONG trade setting up here.
11:21pm LONG 1570.50 / STOP 1569.50
11:24pm Good initial target would be 1576.00 - But not immediately, of course...
11:37pm Moving STOP to 1571.00
11:41pm Moving STOP again to 1571.25
11:42pm Stopped at 1571.25 / +0.75pts
12:45pm SHORT 1572.00 / STOP 1573.00 - Last trade for me tonight...
12:55pm Stopped again at 1573.00 / -1.00pt.

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