This is a closer time-frame view of the recent chart we posted of a larger time-frame. Which was a closer time-frame view of another chart.
The Very Aggressive Intrady Short was identified on 9/18/12 and our subscribers were alerted to the reaction area that would be a deciding factor in the outcome of the previously identified Intraday Aggressive Long already shown on the chart.
Notice that there were two attempts to break through the short on the 15 min chart, but both failed, accompanied by a sell-off into the close. This is a typical bulltrap scenario that occurs frequently. Price gapped down to open right at the failure level of the working Long, as shown as Trap Gap Down on the chart. The entire objective of the gap down was to negate the working Long and to create a long covering cascade to reach the Very Aggressive Intraday Short Target, as well as to trigger the next Long setup. Typical market behaviour ensued; profit-taking and a reversal, buying the next long identified on the chart.
Keep in mind that the Intraday Short still has not reached it's 1st profit-taking target and the all- important 2nd Target, (which is not shown on the chart), is still a considerable distance away viewed from the perspective of a 15 min chart.
This is a typical example of the accuracy of our analysis. We analyze indices, stocks, bonds, etfs, options, and from the world's leading stock exchanges.
Check out our other published charts on this site. If you would like more information regarding our services and how our analysis can greatly increase the accuracy of your trading, contact us at darcykinc at g mail dot com and we will respond in as timely a manner as possible.
edit; for some reason the working long identified on the prior chart is missing from this chart. refer to prior chart to see identified level.