11:00
Market continues down into the December low;- following the breakout out of the 5-day range yesterday @ 6394 and into the 5-day lows today @ 6119.
Today I'm look for counter-trend move but it doesn't look that way, even around December lows.
First entry based on the open of the trading day and R11 system:- looking for a counter-trend move upwards
1. Spiral point 6217 (r44)
Entry 6219 (stopped 6212) (-7)
Market reverses down into first Support zone of 6171 (December lows)
2. Entry R11 reversal @ 6176 (stopped 6169) (-7)
3. Entry R11 reversal @ 6120 Partial exit 6126 & 31 (+6 +11) breakeven stop 6120 (0)
4. Entry R11 Reversal @ 6115 Partial exit 6120 (+5) breakeven stop 6114 (-1)
5. Entry R11 Reversal @ 6118 Partial exit 6127 (+9) exit 6143….(+25) R44 high)
6. Entry R22 reversal @ 6135 Partial exit @ 6150 (+15)
(breakeven stop) now looking for next R44 range or double R22
The intra-day cycle has turned around, so hopefully any up swing can continued, using cycle as re-test and support, for any more trades today….
I was looking for a 44 point move today, and I got it with the reversal upwards today, but I did it the hard way.
Hopefully market continues upwards as part of the Tuesday reversal....
When I analyse my Trades today:- the first 5 were against the trend, and I was lucky that some had at least a 10 point follow through.
The best trade was the last one because it aligned with a change of intra-day cycles and a 22 point reversal for entry.
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