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Forgot the chart! Let's try that again.
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Attached is a chart showing another perspective on this morning's bond
set-up.
Notice how well the 5 minute 20 period EMA is able to contain price.
Also, Momentum Confirmation accompanying the drive to the 95-10 intraday
swing pivot high implies further upside.
Commentary for today's T-Bond trading can be found at
http://www.patterntrapper.com/7217237A.shtml
Bob Hunt
E-Mail: RHunt@xxxxxxxxxxxxxxxxxx
Web Site: http://www.PatternTrapper.com
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Earl Adamy wrote:
>
> Price has now moved through resistance and we can make some price
> projections. Heavy blue line is the 50% retracement of the daily w.3
> decline. We have 2 bull flag projections: the first (95-13) is 62% of
> the length of the pole projected from the bottom of the retracement and
> the second (96) is 100% of the length of the pole. The green line at
> 95-30 is the 162% projection of the initial rally/retracement beginning
> which began on the 19th. Stop has now been moved above the wedge
> breakout assuring (net) breakeven on the trade. Because the trade is
> counter-trend to the major trend (down), the trade will be closed out at
> the earlier of price target(s) or close of trading.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, May 26, 2000 8:28 AM
> Subject: Re: [RT] Bull flag setup
>
> > Here's a look inside the bull flag using a 10 minute chart. Note the
> > bullish wedge formation as documented in PPS Trading System by Curtis
> > Arnold. The heavy red line is the entry stop and the sloping red line
> is
> > the PPS stop. Formations like this frequently occur just under strong
> > resistance(support) such as the 95-0 area which can be seen at the
> very
> > top of the GIF.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, May 26, 2000 8:11 AM
> > Subject: [RT] Bull flag setup
> >
> >
> > > Attached is GIF of a nice bull flag setup on 30 minute bond chart.
> > Note
> > > that retracement is limited to 25%.
> > >
> > > Earl
> > >
> >
--
Bob Hunt
THE PATTERN TRAPPER
E-Mail: RHunt@xxxxxxxxxxxxxxxxxx
Web Site: http://www.PatternTrapper.com
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