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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (24579)	6/27/2000 11:06:00 AM
From: uclatrader	Read Replies (2) \| Respond to of 42787

scmr looking good here shuo

To: Chris who wrote (24579)	6/27/2000 1:19:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 42787

Looks like price on the SPOO resolving a bear type of flag found in the 45-min time frame on its move down. I suspect price will try to fill that gap that was left behind. Perhaps move back up on a test of bottom. I this time frame, price does not have to move all the way to its price target for that bottom before moving back up. The gap shows up before an actual bottom would be put in. Also this time frame can be prone to whipsawing. Add to this the way triangles have been recently showing up which is one tool the market uses to whipsaw or reverse price. The end result should be interesting. The entry for this trade was interesting. The 3-min chart was operative with some price action on the 1-min making sense but being occluded with multiple side-by-side bars. So a chart like this still can be accurate at junctures. And the market likes to fake traders out in a very small time frame while a large pattern is set up. A flag on the 1-min resolved upward. But by this time, there was evidence price was biasing to the downside. Then after a partial move up, the flag failed. An excellent way to trap traders. I was anticipating the failure. But since the entry occurred on the 1-min time frame, there can be whipsawing or failure. Here I am anticipating the resolution of this setup in the small time frame to resolve the flag in the larger time frame. So now lets see if this follows through to the downside. Price targets are 1464 for a gap fill and 1458.25 for an actual test of bottom. So far, price retested yet another time a previous support put in by a bottom on the 3-min chart. Now price is moving back up. Resistance is at 1477.75 which it is testing now. One exit point already occurred at 1477.25 for a scalp from 1478.75 if the two point scalp has not been already taken. The exit point for a trade of an extended move would be at 1478.50 allowing the price another chance to move down which it now has been doing as I type this. Ideally this would be a two contract trade. One to take profits on that scalp, and the other to be there for a follow through. Update 1:22 PM EST Tracking the resolution of that bear flag, I would of been ready to exit at 1478 which price came within one tick of. This happens to me quite frequently. Now the next target is at about 1476 where I would need to monitor price. From the looks of the price action, I anticipate price to follow through past this point. Update 1:26 PM EST Looks like the 45-min flag is beginning to resolve. Using the 15-min chart, I see 1473.50 first target, then 1467.75. Looks like a resistance facilitated by a Stoch onthe 3-min chart bottoming out has caused price to whipssaw yet another time. There are allot of participants in this market has been reluctant to think "down". That is why this last move has been a good one having trapped allot of long players. Incredible, price is still attempting to move up but not successfully so far. What is having these players take the long side at this point? The 20 EMA on the 45-min chart is still several ticks below which I would expect it to meet considering how this move down has been made. Bob Graham