Trend from the first bar bull, lower high major trend reversal, consecutive sell climax
- Tuesday, December 11, 2012
- Bar 1 - Yesterday was trading range day and market has been trying to form 60min double top. Gap up and bull breakout so possible bull trend day. Strong bull bar so ok swing buy or long. Ok to wait
- Bar 2 - Doji so not bear bar. Always in long, buyers below. Ok swing buy or long for possible trend from the first bar bull
- Bar 4 - Bull outside bar surrounded by inside bars, ok swing buy or long
- Bar 5 - Breakout, more up
- Bar 6 - Another bull bar so strong bull and more up
- Bar 10 - Two bar revresal, two legged pullback in a bear move 2, but bull trend day and not trading range so not two legged pullback in a bear move. Buyers below. Probably will enter trading range soon for 1 & 4 hours. Around 11:30, bulls will try for trend resumption and bears will try for major trend reversal. Should get measured move up from 4 & 9 spike
- Bar 12 - One legged pullback in a bull move, two bar revresal, more up, but small bars, buy climax, so trading range likely. Ok swing but probably better to scalp
- Bar 16 - Strong bear reversal bar, final flag 11, but biggest pullback has been 7t so better to not sell or short below and bet on bigger pullback. Possible high of the day, but lp and better to buy or long pullbacks until more selling pressure
- Bar 20 - Outside bar surrounded by inside bars always in long, ok swing buy or long but top of trading range so not high enough probability for scalp. Don't sell or short until more selling pressure.
- Bar 23 - Bull breakout to measured move targets. Probably news. tail so buy climax at resistance. Wait to buy or long
- Bar 24 - Bear inside bar but tail. Wedge 9 16, but not enough selling pressure today to sell or short yet. Better to look to buy or long pullback.
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