Friday, December 28, 2007

A Possible PRICE Failure (PRIME Lower High), on the ES SWING Chart

10:38pm With the SWING Chart pointing down, I am waiting for a Minor, or PRIME PPF on my Trading Chart to go SHORT.
10:50pm SHORT 1496.75 / STOP 1497.75
10:53pm Out at 1497.50 / -0.75pts. PRICE is taking too long to roll over. Will try another SHORT again...
10:59pm Volume is pretty thin, so be prepared for "whip-saws".
11:04pm What a waste ! If only the PRICE movement had been faster just now, I wouldn't have taken out my SHORT, prematurely...Anyway, if PRICE clears 1485.25 (yesterday's session low), we will be in Leg 1 of Back Door Bull Break, on the TREND Chart, confirming the SWING Chart's PRICE Failure, of a PRIME Lower High.
11:21pm Waiting for PRICE to hit PRIME Resistance, on the TRADING will be another SHORT Trade setting up.
11:23pm PRICE is now in PRIME Resistance. Waiting for a PF to go SHORT.
11:26pm Oops...PRICE just went dead. Not sure if it's IB, or the Exchange. I've lost data input for my charts as well...
11:34pm IB is down.
11:41pm Looks like I'll have to call it a charts are "dead", without the input from IB.

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