|
PureBytes Links
Trading Reference Links
|
Continued sideways action with slight increase in On Balance Volume
(slightly bullish) and numerous bounces off 96-19 led us to scratch the
trade with a few ticks profit. Bear wedges are generally counter-trend
patterns and generally indicate a correction rather than a major trend
change. Bear wedges should produce fast, strong moves, so when the move
does not materialize, it is best to stand aside, especially since the
trade is against the major trend. Price has now moved down a couple of
more ticks but is still having trouble gaining momentum.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, June 06, 2000 8:11 AM
Subject: [RT] Bonds (Wedges and Wedges)
> We entered short on the break of yesterday's wedge with a stop at
> yesterday's high - a rather wide stop for the bonds but I had to leave
> the computer for a bit. Price moved down to the 78% retracement of
> yesterday's rally and started work on another wedge having risen just
> short of the 62% of the decline from yesterday's high. We are still
> looking for a break south with a target of 95-27 which is equal to 62%
> of the length of the pole of the bear flag deducted from the
yesterday's
> high. If we don't get follow through to downside pretty quickly, we
will
> move to the sidelines and wait for a break of yesterday's ID low at
> 96-15.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, June 06, 2000 5:46 AM
> Subject: [RT] Re: Sv: Re: Bonds (Final)
>
>
> > Good find! Combine this with the bear flag and the case is even
> stronger
> > for a corrective move down.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Stig O" <olausson@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Monday, June 05, 2000 3:32 PM
> > Subject: [RT] Sv: Re: Bonds (Final)
> >
> >
> >
> > A 10 minute chart reveals a rising (bearish) wedge on the 10
minute
> > chart I have been looking at.
> >
> > I would expect (orderly) lower prices if broken downside(highest
> > probabillity). And SWIFTLY rising prices if broken upside (lowest
> > probabillity)
> > Stig
> >
> >
> >
>
>
>
|