SPI Trading 30th January 2008 part 3

10:53

SPI moved 44 points into a higher Spiral point @ 5824...

It's still high risk trading shorts in this market whilst it's trading above the 3-day high and Weekly 50% level, especially if there is no timeframe resistance levels to help 'stall' price rising.

However, i'm still looking for an R44 reversal down before it can rise higher... (gap close 5762)

2. entry Short 5817 .................Stopped 5823... (-7)

3. entry Short 5820..... added 5816

Partial exit 5792 (+28)

Looking for an R44 completion (breakeven stops 5816)

and last @ 1 lot exit @ 5788 (+28) (neutral positions)

Note: 3-day highs and Weekly 50% levels are valid support zones, however it can break lower because it's the 2nd day of a 2-day stall at the start of the Week