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this is my longer time frame analysis
2008 low somewhere around 10000 mark
sharp rally in 2009 retracing a fair chunk of this decline
2009 - 2012 will challenge 10000 again
pretty grim stuff but thats how its looking
however short term its maybe time for a rally back to 12000
Last edited by dumbass; 26-06-2008 at 05:04 PM.
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market at a key level
time to position for another short in my opinion
if 1261 pivot doesnt hold then were back down to new lows, if holds rally may limp higher
short if we get a close below 1261
financials are breaking down if techs dont save the day then were back down .
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sp 500 breaking down
lower border of bearish wedge under pressure , a close below pivot 1261 will
confirm next wave lower
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i think the next significant event may be breakdown in equities
check out the h1 1260 pivot on the sp 500 arco , it must give way soon
and then were off to test new lows with what looks like maybe a stronger yen
of course just an opinion
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Hi DB
Nice BF on SP....target boxed below.
Possibly need to close that window - which also appears on the 4h
Whereas a great deal of emphasis in candlesticks is given to reversal patterns, a window is considered a continuation pattern. In other words, trading is highly probable to continue in the same direction after the window as it did before it.
Last edited by arco; 22-08-2008 at 01:03 PM.
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Gaps act as resistance or support.
Heres a gap diagram showing the window being closed and acting as support. If comparing the SP chart - turn this diagram upside down and the gap will act as resistance.
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that would make a great short entry, if that gap is closed would take you up to test
polarity on lower wedge boudary.
heres hoping
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Perhaps circa 1290 where 2 TLs meet, and also closing the gap.
Nothing better than if a plan comes together......
Plan the trade - trade the plan
arco
Last edited by arco; 22-08-2008 at 02:22 PM.
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wanted to share this one with you
not too excited until takes out 1260 but nice entry
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HI Db
I'm not trading that currently although it is available on the ODL
platform, but I don't have an account with them at the moment.
Looks like the plan came together......
rgds - arco
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