Still making a pretty consolidation pattern so far - we can
only really buy again now once the upper parallel has been
broken on upside - but day traders are risking buying these
lows and helping to prop it up here with stops just below for
small loss if they are wrong...if they are it triggers a reverse
short for them back to 10879 with stops above the break line
by 50 points or so points. Otherwise we wait for the break
higher, and successful retest, as above comments.
So far today we have traded about 500 points of longs if you
follow the 'other' feed, (top of page for details) - but am
hoping to keep this page regularly updated from now on too.
For those that stay, let's get back on the case...
On upside, Can buy the break above the dynamic holding back price if we see it - which is happening now. It has to survive the retest of the dynamic it has just broken above for the trade to stay good now, so stops can be placed maybe 50 points under the break point for smallish loss if it fails - must then break above the high reached earlier at 11385-11400 to show momentum remains good and to confirm we can stay with it to 11735 and then 11887. The next tradeable upside break comes from here to 12141