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This is one of those days in the bond market where the fills are great
but one gets chopped to trading various pattern setups ... triangles,
inverse h&s and bearish triangles without the market going anywhere. The
aforementioned bullish triangle came turned back to the bottom, pulled
back 38% forming an inverse h&s and came back to the neckline forming a
descending triangle, then broke it. Just illustrates that like any other
trading method, patterns are not infallible. Hard to tell when bonds are
going next ... daily chart suggests a move down is in the cards unless
bonds manage to rally and close near the highs.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, June 09, 2000 8:39 AM
Subject: [RT] Re: Bonds
> Forgot to attach the chart.
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, June 09, 2000 8:37 AM
> Subject: Re: [RT] Bonds
>
>
> Here's the bullish triangle setup on the 60 minute bonds ... top line
> has been well tested and support has held well above the apex at
96-27.
> After vacillating up and down between 62/78% retracement levels on the
5
> minute chart we finally got what looked like a workable bottom at 9703
> and entered long on the breakout. 95-15 is strong intraday resistance.
A
> strong move above 9719 will confirm the position. Projection on
breakout
> above 9808 is 9918.
>
> Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, June 09, 2000 5:38 AM
> > Subject: [RT] Re: S&P chart (follow-up)
> >
> >
> > >
> > > Bonds appear to be expecting a benign PPI .. Thursday hourly
closed
> > > above a large bullish symmetrical triangle for a buy signal ...
did
> > not
> > > take the trade ... will await possible entry points after release
of
> > > PPI.
> >
> >
>
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