PLS chart, page-17061

Hi Folks

Quick update on my previous post. The hourly chart seem to be at a pivotal point.

Notice in my chart I am focussing on the early 10am and 11 am candles because that seems to be where most of the dramatic action takes place. I suspect that when the shorter's attack that they target these early hours. The bulls response seems to as well.

With PSL I have been watching these early hourly movement through a number of large peaks and toughs. I have found it fairly common for the shorters to attack in 2 day and sometimes 3 days. I have found a common pattern to get a two day attack and then a day off followed by another two day attack. Obviously strong influence of the behaviour of the world markets can easily put paid to this pattern. It's only a general pattern I have observed not hard in stone.

From my previous post I discussed that I watch for turning point events. Currently the next event I am looking for is a serious push below 4.82.
Friday and Monday were early candle hit days while today seemed to be a day off. So I will be watching early both days to see if the SP reaches down into the 4.70's. (Yes it could be a bull day or just move sideways in the 4.80's)

If it happens then the region 4.58 to 4.70's is my next area that comes into play. We shall see?

Just the way I deal with the markets so that I am not surprised by what plays out, as always DYOR.

cheers Lies