CLF has been very strong recently and had a big run. I was eyeing for some weakness. Yesterday I entered a short when it formed NRB's but it did not materialize. Today it was relatively weak compared to the market. It gapped up but then sold away and formed the handle at the morning low. It formed 2 IB. Entered short there. Partialled near PDL and the remaining a little above S2. Partials roughly coincided with 50% and 100% extension of the pattern.
SPY gapped up but was unable to hold PDH. Price moved below PDH which now turned into resistance. Price formed doji on it's 2nd attempt to break this resistance. I took a small position and shorted below the dojis. Price broke down sharply on high volume right after entry. Love it when trades move quickly to the targets.Early in the morning I had a loser in POT.
1 comment:
Good blog.
very interesting.
Please hold out in the future.
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my blog:
http://forex-chart-analysis-and-a-cat.blogspot.com/
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