Monday, March 29, 2010

Micro count update

Here is a microcount of today's action. Were higher on the fibs. than I like but all is not lost on my short position. I'm still green and we might even break a new high. The daily (the longest of the 3 chart time-frames) bearish divergence is well in tackt still. I'm a much better trader off of the 1,5,10 minute charts but do not have the $$ to trade it in that manner, so I'm forced out to the longer-term charts. As you can see from the 10 minute chart were ending a triangle here and we didn't get a new high at the close. Watch the support trend very closely, that might be the signal of a trend change.

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