Entered trade(short) at 146.5. Stop loss = max ceiling + atr/2 = 148+3=152.
exit planned at S6 - major trend down expected due to 3rd time bounce from the ceiling.
S6 = pivot - 3*atr = 148.5-3.5*3=138.
pip gain 146.5-138 = 800pips or more.
Note: The max ceiling changed after the break down through the
floor on 11/12/08. Used the candlestick max for 11/12 and 11/13
to calculate ceiling max.
exit planned at S6 - major trend down expected due to 3rd time bounce from the ceiling.
S6 = pivot - 3*atr = 148.5-3.5*3=138.
pip gain 146.5-138 = 800pips or more.
Note: The max ceiling changed after the break down through the
floor on 11/12/08. Used the candlestick max for 11/12 and 11/13
to calculate ceiling max.
Swing Trades + 120 pips/mo