Monday, March 16, 2009

Last and Final Trade 4 of the Day

The M top on the 10 and 3 minute charts broke the back of the upmove. This setup was just waiting for the price to retrace back towards the midswing or some decent resistance level and get overbought again and hope that there would be an afternoon selloff. There was this time, got +1.25 and +4.5 points. Charts and analysis follows:
Trade 4 Screenshot