Looking at last night's PRICE action, we established a Higher Low (HL) and it is clear that PRICE is still in an uptrend and now it has to challenge the last night's PRIME High of 1186.25. However, failure to do so would bring us back down to challenge last night's low of 1167.25 and if PRICE breaks this Support, it would then give us Leg 1 of Back Door Bull Break.
Friday, October 22, 2010
Uptrend Still Intact
Looking at last night's PRICE action, we established a Higher Low (HL) and it is clear that PRICE is still in an uptrend and now it has to challenge the last night's PRIME High of 1186.25. However, failure to do so would bring us back down to challenge last night's low of 1167.25 and if PRICE breaks this Support, it would then give us Leg 1 of Back Door Bull Break.
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Gerimegaly, I would like to personally invite you to submit your favorite blogs and articles to the Carnival of Traders and Investors hosted at DeadCatTraders.com. This blog carnival is currently scheduled to run once a month, with the first edition to be posted on Nov. 27, 2010. My goal is to bring together the best, most informative trading and market related articles. And of course, to drive traffic to and from those articles. Submitting an article is easy. If you would like to submit an article to this carnival, please click here. To check out the current issue, click on my site link above.
Thanks, DCTrader
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