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With gap through the bullish hourly confirmation at 96-23, I waited for
and bought the 38% retracement and reversed giving up a few ticks when
it didn't hold. We are in very strong support area here and downside
follow-through is weak. Having dropped as far as we have without a
retracement and cracked the prior 3 lows this morning without gaining
momentum on sell stops, I suspect we are in for a day of grinding up and
down - just like yesterday.
Earl
----- Original Message -----
From: "T-Bondtrader" <t-bondtrader@xxxxxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, June 23, 2000 8:30 AM
Subject: Re: [RT] Re: Bonds (06-30 pivot date?)
> I have to look at the primary trend as up and will set my
> > trading plan accordingly.
> >
> > Earl
>
> I take it when you say 'primary trend' you are talking as a position
player?
> Because as a day trader I am thinking we will see the continuation DS
come
> the finish... Went short when we went through the major line of
96^15 and
> held for the .618 retracement off the intraday low, but we seem to be
having
> difficulty breaking it again and with the Spoo seemingly detirmined to
head
> south, I have moved my stop down to yesterday's low. If we breach
that
> coming back, then we might see an up trend, but at the moment all my
> confirming charts are staring at my boots... so let me put my bread
on the
> table with at least ten ticks and you can have yours if it turns
round.
>
> But if we end up with a continuation DS, then we proably are looking
at
> lower prices in the near term - but Mr Greenspan could change all that
next
> week.
>
> Bill Eykyn
> www.t-bondtrader.com
> "Learn to read the tape"
>
>
>
>
>
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