Wedge bottom, trading range day, late double bottom higher low major trend reversal

• Friday, November 9, 2012
• Bar 1 - Yesterday was bear channel after bear spike. Big bull bar at trend channel line and 60 minimum or minutes measured move so good swing buy or long for low of the day. Target = top of channel and middle of yesterday possible triangle = final flag. Good chance we get bull breakout of bear channel on 15 mi, and then a pullback to a higher low major trend reversal today or mon
• Bar 2 - Weak follow through but buyers below
• Bar 4 - Outside down bar, but still always in long
• Bar 5 - Strong bull bar but report soon. Always in long so ok buy or long but wide stop so trade small or wait
• Bar 7 - Close near high, breakout, always in long. Ok swing buy or long
• Bar 8 - Bull follow through, more up
• Bar 9 - Two legged pullback in a bear move but bull body and tight channel and not quite to measured move so buyers below
• Bar 12 - Bear reversal bar near 15 minute 20 bar moving average plotted on a 5 minute chart and measured move, wedge 3 9. Tail, always in long , targets above so better to look to buy or long pullback. Might get higher low major trend reversal
• Bar 13 - Double bottom 10 but 3 bear bodies so sellers above. Wait for more sideways to buy or long
• Bar 16 - Big bear inside bar, close on low, wedge 9 11, at 15 minute 20 bar moving average plotted on a 5 minute chart and final flag possible triangle, but always in long and tight channel so better to wait. Might be ok scalp, but big bull bar so lower probability
• Bar 17 - Breakout pullback buy or long but building selling pressure so scalp or wait. Probably better to wait to see if can buy or long test of bottom of upper trading range, around 14 low
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