Wednesday, July 07, 2010

Works every time…almost…

TDSequential Countdown Buy 13 completed on July 2nd, established TDST at 1006 (13 in this case was the lowest bar). 1006 is very close to TDRL for prior Buy Setup (Since bar 8 was the lowest - Bar 8th range from bar 8 low) plus that steep yellow trendline/TD Demand Line held up on closing basis – and we got expected bounce.  (I always keep forgetting that futures counts in most cases are more accurate than those of SPX/SPY)

Looking at Fibonacci Time Series we are in between 21 and 34 and in a lot of cases price ends up flat in between those.

worth noting volatility trailing stop – it has not been violated on closing basis during last 2 up days, I think it will be hit Thursday/Friday and IF price will close under stop – next week will produce some downside.  Also I am watching that close to horizontal yet another yellow trendline, not discounting possibility of up move up to 1080 area.



Based on weekly ongoing setup, price can go almost up to 1085 and developing setup will not be affected.


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