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Post# of 46542
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bbgold

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bbgold

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Re: kiy post# 22711

Friday, 06/01/2012 2:15:14 PM

Friday, June 01, 2012 2:15:14 PM

Post# of 46542
Chart recognition for repeating patterns
We have 2 choices here, repeat the breakdown at 1342/1343 for 3 more days of selling Or possible to repeat the double bottom bounce from last June. As the saying goes 'when in Doubt get Out' so I am going to Cash for now to see how it plays out. Any bottom into Wed and I will be looking Long, any rally back to resistance and I will be looking Short again. For now the 'pattern' that is most dominant is unclear to me, though the trend is bearish.
I am just playing it Safe with Cash for now.
So target is still 1250, but do we bounce first before heading back down.

Good Luck to All! :^)

PLAN the TRADE and TRADE the PLAN!


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