Tuesday, January 22, 2008

Short Trading Session Exacerbates The Carnage

My ES Position Chart above...
I've decided to post my ES Position Chart, to show the extent of the damage done so far. We are clearly still in Leg 1 of Back Door Bull Break as seen above and PRICE, when done going down, will have to head back up to challenge last PRIME Resistance (1526.75), and fail, to give us a Lower High - for Leg 2 to be establish.
Three Legs (LL, LH, then LL) are needed to change it into a Bear TREND but the Second Leg gives one a chance to "clear out all LONG positions".

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