http://s22.photobucket.com/albums/b313/Hcour/?action=view¤t=c5.gif Click on the chart for larger view. Trendline A is a downtrend, consisting of several long spreads down at 123, the last bar a selling climax. After a couple of quick tests, price forms a consolidation range on the automatic rally at the high at 4 before pulling back, then at 5 a significant secondary test, a higher low, which starts a nice uptrend at trendline B. At 7 there is a reversal of the previous up bar, itself immediately reversed the next bar 8. Here price goes sideways bouncing around the resistance at 4 with an upward bias for the next six bars until 9 breaks out and continues the uptrend. At 10 the widest spread closing on the high since the uptrend began at 5, followed by a shallow pullback on short spreads all closing well off their lows. Here, looking to go up in the short-term, targets at resistance at X at the top of chart, stops placed somewhere in the area of the lows of bar 10. Following 10, price consolidates the next five bars, every close in a very tight range. At 11 price breaks the trendline and closes at its low well below the previous closes and a bit below the lows of that little range, on a good spread. But there is no follow-thru, the next day closes nearer its high and then at 12 an immediate recovery on the longest spread since 10, closing at the high, back into the trendline and at the previous closes of the range. The next bar, a shorter but decent spread with a positive close at a new high breaking well-above the highs and closes of that recent range. So far, very shallow pullback in the uptrend with an immediate reversal of the trendline/range break. Still looking to at least test the X highs.