Wednesday, April 29, 2009

Looking to buy a dip down around the rising trendline

That was a nice ride higher though not breaking out and carrying on as I hoped. Was stopped out on the late dip @ 868. Now looking for a chance to get long again near that rising trend line in the 866ish range for another drift higher come morning. I'm still with a long sided bias up into my target area at 940ish.

EDIT: not touching this at 866... I'll wait for 860ish within a day or 2 to get long again.



EDIT: adding a sketched chart of the symmetry I expect will unfold which highlights the rounded turn higher as we proceed. This suggest a possible low of 860 at some point tonight or tomorrow.


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