We had our bounce and the trend channel on the hourly chart is now broken.
The short-term trend is now down.
Trade - second chance for a short position.
Feb 25, 2010
Feb 23, 2010
Short-term trend change
Today we have a short signal:
- mMm Histogram pattern
- candlesticks - close bellow the close of the previous day. Notice at daily chart - two candles with narrow range bodies upper shadows followed by long candle.
The trend channel at hourly chart is still not broken and we do not have triple cross.
That means we can see 1-2 day bounce before the break of the channel.
Close above the high at 10438 will negate the signal.
Trade - open short positions.
- mMm Histogram pattern
- candlesticks - close bellow the close of the previous day. Notice at daily chart - two candles with narrow range bodies upper shadows followed by long candle.
The trend channel at hourly chart is still not broken and we do not have triple cross.
That means we can see 1-2 day bounce before the break of the channel.
Close above the high at 10438 will negate the signal.
Trade - open short positions.
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