13:18SPI consolidating under risk @ 5539 and pushing down from an R44 spiral top....
expectation that the R44 range will complete @ 5520....
Keep an eye on 14:36 if buying comes off this level and pushes upwards:- the price action today doesn't favour a short-covering rally based on Range bar activity, and it can easily move down into close.....
My last short entry @ 5540 partial exit @ 5529 (+11)
and holding 1 lot with a stop @ 5545....
Note: It depends on how the market reacts around 5520 whether I cover and switch into longs, but if price is trading below 5520 before 14:36 then i'm holding short into close......
If price hits 5520 after 14.:36 and begins to rise, I'll cover short (higher Risk long trades off 5520 whilst trading below 5539)
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13:45
SPI trading @ 5522 moving stop to 5539
If there is going to be any short-covering rally it will begin from 5520 and move upwards in the last 100 minutes of trading......
At this stage not looking to trade longs.....
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