Tuesday, February 21, 2012
- Bar 1 - Y(yesterday) = TRD(trading range day). G(gap) above HOY(high of yesterday) and how so look for reversal down. Bull BO(breakout) of bull channel so odds are it will soon F(fail, failure) and test below bottom of channel. Small body so BRS(buyers) below, but just above SR(support and/or resistance) so might wait to B(buy) 1 PT(profit target) down.
- Bar 2 - BP(breakout pullback) B(buy) but doji. Wait. PROB(probably) more SRS(sellers) above.
- Bar 3 - 2nd entry S(short) from BO(breakout) above HOY(high of yesterday) and F(fail, failure) bull BO(breakout) of bull channel. Ok swing S(short) and PROB(probably) scalp as well, since should poke below bottom of channel.
- Bar 4 - Big bear bar. AIS(always in short).
- Bar 5 - Bear FT(follow through) but at 15MA(15 minute 20 bar MA(moving average) plotted on a 5 minute chart) and MA(moving average) and bottom of 48 TTR(tight trading range) so scalp most or all for 2 PTS(points).
- Bar 6 - Bull RB(reversal bar) at MA(moving average) and COY(close of yesterday), or B(buy), but only 1t body so LP(low probability). Ok swing B(buy) but not scalp. Still on 4 swing S(short) and SRS(sellers) more likely above.
- Bar 8 - BP(breakout pullback) S(short) but 2 bull bars at support. BRS(buyers) below for scalp and swing.
- Bar 9 - OU(outside up bar), bull BO(breakout) but still might be W(wedge) bear flag LH(lower high).
- Bar 10 - F(fail, failure) BO(breakout) but strong bull OU(outside up bar) and POSS(possible) LOD(low of the day). PROB(probably) BRS(buyers) beow for scalp and swing.