Tuesday, April 20, 2010

Finding an Exit take 2

Well, I missed my exit spot on Friday stuck with work crisis and didn't get out when I saw the bullish divergence and the 3 wave low. After the fact I'm looking to still exit based on the same criteria. I notice some interesting Pre-channels that have stopped the momentum up today.

I expect a retrace back to the fib lines of the last run 1195~ish range after today or tomorrow's high. I'm going to keep a close look (if I can be at the computer tomorrow) at the battle at the fibs and if that trendline breaks. Best case senario is that we get very bearish impulse waves which i'm not holding my breath for. It may take some time for this to roll over with new high's along the way and maybe even past 1213 high as well, but keep an eye on bearish divergence to hold true.

No comments:

Post a Comment