Thursday, February 23, 2012
- Bar 1 - Y(yesterday) = was a TRD(trading range day) with a bull channel at the end. Bear BO(breakout) if bear channel but tail so BRS(buyers) will scale in below.
- Bar 2 - Another tail, so some BG(buying).
- Bar 3 - Strong bear BO(breakout) but leg 1=2, 60 MIN(minimum or minutes) TL(trendline), LOY(low of yesterday) so might be EG(exhaustion gap).
- Bar 4 - Bull RB(reversal bar), W(wedge), LOY(low of yesterday), bottom of channel, but 3 bars down. 30% chance LOD(low of the day) so ok swing, but if LOD(low of the day), should get test within about 10 bars since TC(tight channel).
- Bar 6 - L1(1 legged pullback in a bear move) S(short), bear bar, but report. Wait.
- Bar 7 - Bll BO(breakout) of L1(1 legged pullback in a bear move) bear flag, but tail so not strong.
- Bar 8 - Small tail, bull FT(follow through), AIL(always in long), but at MA(moving average) so better to wait.
- Bar 10 - Bear RB(reversal bar), HOD(high of the day), but AIL(always in long) so BRS(buyers) below. Should test down soon since not strong bottom.
- Bar 11 - H1(1 legged pullback in a bull move) B(buy) but MA(moving average) and should test down and form HL(higher low) MTR(major trend reversal).