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Chart Folder - January 6, 2005: |
Much better day today...See chart. Open Gap Strategy gave us a point. 9:33 L 2 1186.75 exit 1187.75 11:15 Reverse set up off of a Triple bottom...formed a spike but did not retrace; that set-up the 30-Min. Breakout second time through, and gave us 1-1/4 points...11:18 L 2 1188.50 exit 11:21 1189.75 Nice Pennant...and a breakout of the pennant, but it was to close to support and no mom. Nice breakout of the high of the day...But only take that kind of breakout when you have the Magic Numbers and above the MA, and don't get greedy...look for the opportunity now to sell the breakout of the Flag and the high of the day. Bear Flag breakout but too close to 3 o'clock Time Zone...if you were willing to take the risk because it did not reverse it would have worked. I was through for the day...but it was fun watching. Marsh Laugh for the day..."Remember, Ginger Rogers did everything Fred Astaire did, but she did it backwards and in high heels!"
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