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The stops just above the descending blue line have been taken out which
may indicate that the locals are ready to run the market south - but
only if the rally bars are reversed quickly. If the new high is
(significantly) lower than the previous high at 96-29 , we can draw a
new descending trendline which will complete the picture of a bearish
wedge and setup for short entry. OOH, consolidation into the highs at
96-29 will indicate that a base is in place for a rally to retest
Friday's high.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 7:43 AM
Subject: [RT] Re: Bonds
> Bull triangle has been broken leaving an unresolved bear flag. We are
> now working on a possible descending triangle to complement the bear
> flag. I would like to see a break just above the downtrend line to
clear
> buy stops and provide an entry point with only a couple of ticks of
> risk.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, June 05, 2000 7:08 AM
> Subject: [RT] Re: Bonds
>
>
> > Have been watching the intraday chart (5/10 minute) since the open
and
> > it is displaying a most interesting combination of an ascending
> triangle
> > (bullish) and a bear flag (25% retracement). I suspect that the bear
> > flag will win, however the market will tell us in due course. In any
> > event, there should be a nice trade out: a day trade to long side or
a
> > position trade to downside.
> >
> > Earl
>
>
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