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Weekly chart shows a nice symmetrical bull flag which has held to 38%
retracement (I prefer 25%) and projection for a w.5 decline. Daily shows
a very ragged correction which so far has managed higher highs and
higher lows (most importantly a triple bottom at 96-06, 96-09, 96-09),
and suggests only modest odds that the 11Apr high at 99-24 will be
exceeded. Hourly shows a bullish spring reversal which will get initial
confirmation at 96-23 and 5 minute confirmed a bullish reversal
yesterday. I have to look at the primary trend as up and will set my
trading plan accordingly.
Earl
----- Original Message -----
From: "T-Bondtrader" <t-bondtrader@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, June 22, 2000 1:24 PM
Subject: [RT] Re: Bonds (06-30 pivot date?)
> >..........is calling for a turn date for bonds on tomorrow 06-23.
>
>
> With regard to the above, the bonds have closed in a very interesting
> position. The market has done a nice clean Doji. Furthermore, it
> already has a good solid down bar in front of it, so we could say that
we
> have the makings of one of my Doji Sandwich patterns...
>
> As you will see from the attached gif, the DS could either be a big
reversal
> bar and thus lead to higher prices, or it could be a continuation DS
and
> lead to much lower prices. The latter would be in line with the
Telegraph
> Pole that ended up on the side of the hill, rather than on the top,
where it
> would have been supreme!
>
> The upthrust (or as I often call it, a Duke of York day) which
followed the
> inside day has the makings of lower prices and I think the odds are
for a
> continuation rather than a reversal DS . If it is a reversal pattern,
it is
> not in a classic position for a change of trend... As always we will
see.
> From a day trading perspective it doesn't really matter. Yesterday
was
> great, today was lousy and tomorrow is tomorrow...
>
>
> Bill Eykyn
> www.t-bondtrader.com
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