Thursday, February 21, 2008

Consolidation on the Dow E-mini (YM)

My YM SWING Chart above...
For today, I thought I'll feature the PRICE movement of the Dow E-mini (YM). From the above SWING Chart, you can see that the BEAR TREND is still very much intact.
At this point in time, with the series of PRIME PPFs (Consolidation), we need PRICE to give us direction, and that would mean breaking (Breaching) out of either direction.
But with PRICE on my YM Position Chart still needing to head back up to challenge last PRIME Resistance, the expectation would be for a upmove. But as always, we trade PRICE, so we need PRICE to lead the way.

No comments: