Thursday, November 25, 2010

Consolidation phase

After the good bear rally from the first half of this week, price action has settled into a consolidation phase.  My losses from the past 2 days have been due to false breakouts, whipsawed from both sides of the range.

Update Thursday 8:40pm: Fibre stopped out for -85 pips (-1.17%), and I note this buy was a faultless trade.  Currently down -1.3% for the week. 
SNR sell triggered, now in play.  

Another sell signal triggered.

Cable still in play, suffering around -40 drawdown, I suspect cable action will be sideways until news at 9pm.

Update 12:23pm: Cable long finally stopped out for -86 (-1.1%), SNR sell in play.  This trade should not have been taken because there was no flat or rising bottom.  Brings the week to (-2.4%) down.

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