weak start.
up: fb, ddd, fslr, irbt
weak: CYOU, SOHU -- HTZ, sbux, aig,
/tf - wedge at 9:25
Fri low 40t away.
9:44 -- gap fill fri. close touch.
adrl -247 tho.
5/34 xover -- drop below 10 min OR -- and smooth sailing for major trend down
Market Signals were giving it away.
High of day was simply a gap fill just past Fri close. classic double top.
ad -1400 - -major instit. selling. No need to fight it intraday until patterns develop.
11:35 - euro closed.
3rd touch on 10tick chart -- was just 3 minutes after low of day touched /tf -- then 30tick bounce.
/tf-- retrace 50% of today's top to bottom -- dropped to 2nd support (Thurs low) -- tl break, triple touch - and slow roller to 50% fib.
short /tf triple top + TL break + ad -752 and trending lower. <--- -="" good="" p="" this="" was="" yep="">
We're under 10 min OR -- with weak internals -- have to follow trend.
3rd touch after major support/resistance areas -- pay big today.
+put in Fib retrace lines after 1% move or more... captures the bounce.
Once again -- afternoon provided virtually nothing to work with - the key times for futures are the opening -- and the intial move by longs which was clearly wrong -- allowing for an easy entry -- but then the hard part -- holding the trend until major support is hit.
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| /tf: weak internals - have to find a way to get short today |
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