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Sell stop under the bear wedge has been cancelled to await a downside
breakout and retracement. The hesitation in moving back down indicates
that bonds may need to do a bit more work before moving out. In fact, we
will probably see a retest of the bear wedge second PH.
Trading is all about probabilities, not certainties, so we only work the
trades which appear to have high probability.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 8:47 AM
Subject: Re: [RT] Re: Bonds (caution)
> When the locals intend to push the market, they generally clear the
> stops and turn it quickly (e.g. back down through the blue line) -
> inability to do so indicates there is not a firm opinion in the pit.
If
> the market does not break quickly from any break under the previous PL
> at 96-15, one can expect an attempt to retest the PH.
>
> Earl
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