after gapping down -- bullish engulfing candle with follow-through today... good read on sentiment -- turned 100% negative at the bottom.
Need to hold through the final plunge... though.
Friday, December 30, 2011
Thursday, December 29, 2011
falling:
/gc -- morning - in freefall down 30/oz. /gc finally crashes to 1525 -- nice round area of support and bounces 10 pts. -- safe to enter on downtrend break near 1528 for 5 or 6 pts.
When trend is strongly down -- wait for washout -- drop to 1525 was huge candle. Exact bottom at 1525 good clue there's too much demand / covering and may see bounce.
When trend is strongly down -- wait for washout -- drop to 1525 was huge candle. Exact bottom at 1525 good clue there's too much demand / covering and may see bounce.
Monday, December 12, 2011
trend down day trade:
internals - strongly bearish... the key was to do nothing -- and wait until 3 pm when the cover trade comes in --- /tf moved 10 pts -- no way to fight it. Getting long early won't work. but end of day will likely be a very easy trade with confirmation in bonds getting weak and -- like today - the euro bottomed off an old low established on Oct. On Twitter, permabears were covering with glee -- so it was clear the trade just needed the last half hour for the move.
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