ER2 charts

futures live trades

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humble1
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triangle finallt formed

Postby humble1 » Fri Mar 23, 2007 7:43 pm

not real strong ofr a setup, the initial target is back to 818.5 just above gap resistance....if it can't make that, then I vote for a run lower, to 50% retrace of the last move up [803 area first then 792]. if it does make it over the gap rim, then there is a lot of air to fill and it may run nicely. yellow arrows mark the 3 bars that confirmed the last minor top.

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humble1
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Postby humble1 » Fri Mar 23, 2007 11:12 pm

Looks like there are several of you that follow my posts. Feel free to ask questions or give input [be gentle]. Thanks.

humble1
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Postby humble1 » Mon Mar 26, 2007 2:06 pm

the breakout is failing, I am using 815 as my pivot on the failure, if it gets used as resistance, then we go lower for a while until a small reversal pattern shows up. 808.6 looks like it may provide some support.

humble1
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here we are @ 815 resistance on weak volume

Postby humble1 » Mon Mar 26, 2007 7:43 pm

small inverted head and shoulders pattern about to make it's target. should be a short in this area.

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humble1
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Postby humble1 » Tue Mar 27, 2007 1:17 pm

touched the yellow dashed neckline over night, this sets up the range for the day between 815 and 811 or so. if the bulls are alive this thing will just dribble sideways for a bit yet and then try that gap again, if the bears are strong 815 remains resistance and we go lower before setting up a substantial base again.

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bearwatch
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Postby bearwatch » Tue Mar 27, 2007 1:57 pm

This is a bear flag forming since yesterday correct?

humble1
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Postby humble1 » Tue Mar 27, 2007 3:25 pm

the pattern from 808 to 815 is a wedge breakdown, and can be measured as a flag if 808 gets bvroken again and used for resistance....should move to 805 with daily moving average support near 802

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Postby humble1 » Tue Mar 27, 2007 3:26 pm

torrero!!!

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Postby humble1 » Tue Mar 27, 2007 3:33 pm

converging support seems to be nearer to 790 area.

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bearwatch
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Postby bearwatch » Tue Mar 27, 2007 8:25 pm

Yes, in smaller timeframe, I saw a bear flag that had the look of a rising wedge. I missed it when it when down fast and reached target. Now, looking at your chart, I realized a parallel channel is at 806 and pushing back up. I missed that drawing that completely.

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