WEEK ENDING 10/19/12

BOT TRADING SYSTEM

Discussed.  It happened.  It was played.  The PB to the low were bulls would have an interest.  Earning season has helped as well.


MONDAY

TL runner, EMA support.






TUESDAY

 Running the TL's



WEDNESDAY

Running and staying inside the diagonal ranges



THURSDAY

Range bound with reversals and range runs

FUN FRIDAY

Thursday's range bound day came after a flat, consolidating overnight trading zone.  Was earnings over?  Was it news from the Euro Zone (same news different spin)?  Consolidation and range bound  creates a  scenario for an extended break out.

In chat:   [14:01] <CM>  (runs) +8-10 longs +8-10 shorts... range bound after the overnight consolidation which increases odds of extended bo tomorrow

When the selling started in overnight trading   [10:44] <CM> couple of things from last evening  [21:06] <CM> ema break short..
[10:44] <CM> [21:14] <CM> 52.5 is a long
[10:45] <CM> the 52.5 was resistance level  and we struggled with the 1452 all night

The bias was for a short break out.  From the Short Break Out Target, PA nearly push down to the BO 5  in one candle.  The 50CB TL was a resistance for most of the day, and was slightly below the 20EMA.  This gap in PA to EMA was not tested until the CT PB toward 1435  (point A).

It failed, and another push down followed.  With the TL and EMA resistance, Point A failure was a lower risk short .