Trending trading range day.
- Tuesday, October 9, 2012
- Bar 1 - Yesterday = small trading range day so might get outside down bar today. Big bear bar butmight be sell vacuum test of low of yesterday. Wait
- Bar 2 - Bull inside bar, sell vacuum test low of yesterday, possible low of the day but tight channel so better to wait
- Bar 3 - 2nd bull bar but test a. Wait
- Bar 6 - Doji two inside bars , small breakout of 29 small breakout so if get bounce and another new low, probably will get measured move down, because a type of fail, failure wedge bottom
- Bar 11 - Two inside bars and fail, failure at moving average again, but doji. Wait. Tight trading range, barb wire. Should be sellers for measured move down if fall below 4 since small breakout of small breakout and would be fail, failure wedge bottom
- Bar 14 - Bear breakout, always in short, should get measured move down
- Bar 15 - Bear body so always in short and more down. Swing stop above 14
- Bar 16 - Big bar so possible sell climax, but always in short so either be short or look to get short. Big bear breakout so trending trading range day or spike and channel bear likely. Maybe 80% chance 3 is high of the day. More down
- Bar 17 - Tail, but trendline below. More down, but might soon enter trading range
- Bar 20 - Two bar revresal, microwedge, trendline, but always in short and should get more down. Ok to sell or short for any reason, but probably will be able to sell or short higher. Don't buy or long. More down likely after any bounce
- Bar 21 - Two inside bars, one legged pullback in a bear move sell or short but probably scalp only after consecutive sell climax 4 14 16
- [more Bar-by-Bar Analysis in the Forums at www.brookspriceaction.com]
Check our web site for information on trading course available Oct. 12.
