I will be looking for price to follow through. Would like to enter short around 4820's, idea being enter within the ribbon and play the follow through of the new downtrend. Target last weeks low for >60pts. Risk 20pts at/around Friday's high, R:R = 3:1.
She gives the entry we want!
... however I had to wait til the shorter time frame bullishness subsided ... http://screencast.com/t/ZZbD0bu7l2
Trade closed: stop reached:
well looks like it wanted to make a box, and I was only at the bottom of the new box it created, but at the time that support looked read to break. Oh well, can't win them all. :)