Friday, June 14, 2013

June 14: Fri

Possibilities are:

Enter at good location -- on a TL  sup/resistance -- if the internals look like they'll hold the line.

Wait for a breakout of a pattern of an hour or more duration.  Again, internals need to be moving in direction of b/o.

Today, /tf established clear TL at 10 am -- so very long TL to work with on mixed internals.

The next set up was hours later... a decision wedge builds and the declining internals tell you to look for a break down which occurs.

The target was the 50% fib of the entire 2 day move -- in fact, /tf pushed past this level.

If you didn't take the target then you are holding with a stop at the 5 min TL which takes you out around 976.4 which was -- coincidentally enough the 50% fib retrace area pretty much to the tick anyway.

Advrl-declrl at entry was over -1000

/tf: will set up every day, are you patient enough to wait for it?

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