The last few days have been busy. The last post was about the perception that a major break out was imminent: in a few hours as it turned out.
July 3:
PA was trending at a major support point and in a moderate bull channel that broke at the US Open. The first 2 bars were wide range and difficult on the Rth to determine a direction. The support and channel seem to imply long.
Other than the initial BO, the next preferred long opportunity was at a quality PB. It hit and still stayed north of the EMA (which was last hit at B2).
The TL break near a key level offered a nice PB short to the EMA.
7-2-12
A :Tracy" pattern was developing early and the downside was calculated. PA came through on the backside of the Tracy, and hit the lowest target for support.
A three push hit on the support gave way to a bullish channel with low/high transaction points. Various views developed in the day are shown. Often multiple charts carry different information during the day.
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