Well there is no hard and fast rule about this at the moment, I...

Well there is no hard and fast rule about this at the moment, I am just looking for a point to short that has a high probability. Take the following chart:



Running down from the high you see how the blue 1:4 line caused resistance and thats basically how I caught the top perfectly on that friday... posted on here.

You generally see a June rally and I would expect that to only get to the red line, this would be the place to short, market should always find resistance and at least give you time to think about the position & get out ok or you end up been right.... you see how the resistance worked ok last friday and gave you time to think about it.

Typically counter rallies are very fast by nature so I would expect a fast move up if that blue line that stopped the market on Friday is broken, no doubt it will.

The point market 1 seems the optimal point for me, last counter rally high & 2 sets of angual resistance, however any of this prices and times suit me fine:

19/06/2006 11346.2
20/06/2006 11334.2
21/06/2006 11322.2
22/06/2006 11310.2
23/06/2006 11298.2
26/06/2006 11286.2
27/06/2006 11274.2
28/06/2006 11262.2
29/06/2006 11250.2
30/06/2006 11238.2
1/07/2006 11226.2