Wednesday, March 14, 2012

major structures:

at 10:09  /tf  completes a triple top at previous resistance with  clear  bearish Market Signals -- a TL break leads to 70 tick drop almost straight down.

Later in the day  /es forms a tilted 3 top -- and also drops fast and easy.

Finally   /gc -- trends down all day but  KEY POINT:

 Watch for reversal at 3:15ish --   /gc was DEEPLY DEEPLY oversold at a value area and was ripe for a bounce despite weak market signals ---    /gc bounced 100 ticks from 3:15 on a clear TL break.

 So key learning point:   watch the afternoon carefully if market gets too oversold -- watch for TL break bounces.

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