Thursday, October 25, 2007

TREND Chart: PRICE is trying to establish a Higher PRIME Low

10:02pm Looking for a possible LONG Trade.
10:03pm A Minor PPF of Support (1515.25) would do the trick...
10:06pm PRICE is in PRIME, on the TREND Chart. A Minor PPF of Support on the TRADING Chart would be my queue to go LONG.
10:08pm TREND Chart has turned up. Now for that Oscillation challenge of Support, on the TRADING Chart.
10:13pm I just stepped away from the PC and I completely missed that Oscillation challenge for the LONG...It was really fast! Will now have to wait for the next Oscillation challenge of Support.
10:15pm PRICE is heading back up to challenge 1527.50, followed by 1529.25 - That's provided PRICE doesn't fail first, of course.
10:17pm First PRICE target of 1527.50 is almost hit...
10:20pm 1527.50 cleared.
10:21pm Not going LONG in the meantime...a tad bit overbought. Will wait for a pull back then decide the next move.
10:25pm Second PRICE target of 1529.25 also cleared.
10:33pm Going for a SHORT Trade.
10:34pm SHORT 1525.75 / STOP 1526.75
10:39pm Stopped at 1526.75 / -1.00pt.
10:40pm Stepping away for a while. Be right back...
10:53pm Looks like the pullback in PRICE is done. Let's see if PRICE gives us the opportunity to go LONG here. Waiting for the Minor PPF of Support, on the TRADING Chart.
11:29pm PRICE still trying to find that Higher Low...
11:46pm LONG 1522.50 / STOP 1521.50
11:48pm PRICE has to take out 1526.00 for this LONG Trade.
11:49pm Will get out of the trade if I start to see PRICE fail.
11:51pm Out at B.E.

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