SPI Trading 11th February 2008 part 3
10:25...
Market reversed down from an R44 spiral top, and trading below the Weekly 50% level of 5993...
Whilst trading below Risk levels, trading longs are open to Risk...
Went long on open at 5601, didn't exit on the R44 high, but added longs on the R22 Reversal @ 5608 (stopped out @ 5600)...
Moved into 1 lot long @ 5580....(Dilernia Pivot R11 reversal)
A 22 point upmove and failure around 5593-6 is a bearish pattern if it moves back below 5580, then I would think price is rotating down into the 3-day lows....
holding 1 lot (Breakeven stop from entry)....
Posted by
Frank Dilernia