short term trading, page-121

Spot on Hotfire,

I feel just the same, The Dow moving lower on steadily increasing volume is still a worry.

A nice shakeout to catch all the stops just below the August shakeout bar would just top it off, with some further testing and then a higher low, would be perfect.

Have to wait and see I guess.

Just because the XJO looks to be testing, doesnt mean it cant test again tomorrow a little lower, this would make todays potential test a failed test, and we would await confirmation of the next potential test.

No great hurry yet, if you get in too early, you can be caught in a false breakout.

Better to wait for successful testing (an agressive entry)then a higher low that is tested sucessfully (enter on the breakout bar after the Successful test), this way you can avoid any false breakouts although you would also miss out on a few cents at the lows.

I guess you know all that though

cheers