Argh! The "M" bottom today really put the screw to my head. "Third time's a charm..." (usually). I don't expect M bottom's to hold! There was even a magic tick confirmation. I was short the farm and it blew up in my face. Did not have the gumption to reverse at that point and threw in the towel with a loss on the day. Rough trading day... Stone
If my time- and price-based targets for the next few months are correct - a rally to the 1100s until the next leg down in January - we should start seeing the stairstep/sawtooth pattern on the 60min charts. The price patterns we're now seeing last occurred in July. IMHO tomorrow will see a step up to the 910-1010 region.
Little afterhours fun, could have timed the entry a little bit better but thought it was a sound trade. Anyone think posting charts with annotations is better than posting the calls in text format, I just think they are more informative and precise. Time for little rest so I can be ready for RTHs. TV