Trend from the first bar bull, higher high major trend reversal, wedge bull flag. Report tomorrow should be over 8% unemployment.
- Thursday, November 1, 2012
- Bar 1 - Yesterday ended with strong selloff but still in trading range. Low of yesterday was higher low major trend reversal. Big gap up so probably more up. Possible low of the day. Ok swing buy or long but big bar so trade small or wait
- Bar 2 - Bull body so always in long and buyers below
- Bar 3 - One legged pullback in a bull move but big bear body. Ok swing buy or long since always in long, but bad signal bar so ok to wait. Odds favor bull trend day since higher low major trend reversal yesterday
- Bar 6 - 2 bull bodies, but tails. Report so ok to wait but still always in long with swing stop below 3 or 1
- Bar 7 - Close far above 6 so breakout and possible measuring gap
- Bar 9 - Doji two inside bars, strongly always in long, but possible final flag. Ok buy or long but better as scalp
- Bar 11 - Inside bar so final flag, wedge 1 7, but might stay always in long all day so do not sell or short. Only buy or long or buy or long pullbacks
- Bar 13 - One legged pullback in a bull move, but inside bar, odds favor trading range after buy climax so better to scalp or wait for approx. Ten bar, two-legged correction sideways to down.
- Bar 17 - Two bar reversal, wedge 7 10, tails, small bars. Probably starting trading range. Biggest pullback 8t so don't sell or short below bars. Should correct about approx. Ten bar, two-legged correction to maybe just above moving average and around 12 low. Then look to buy or long two legged pullback in a bull move or possible triangle if bull signal bar
- Bar 19 - One legged pullback in a bull move but sellers above since should get 2 legs sideways to down after small wedge
- Bar 22 - Bear breakout, but should fail, failure since strong bull trend and still above moving average
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