weekend charting 04122010, page-67

rtellie,

I have done a chart to explain better. The range was $1.69 current range $1.63 give or take. Again just needed to lighten up so as if the market fell 100-200 points with a non farm payrolls I wouldn't care as much.

I hate gaps, and any gap would have me taking swift action to defend, or limit adverse reaction.

Entry was on breakout, and posted chart prior on my twitter, just to let people know that I was watching its action over the last few weeks. The breakdown from low $13's would be expected resistance, but not without a higher swing low first I would beleive as the last 2 doji's would predit. I would at a guess say high $11's for the swing to occur. The final range up to the low $13's would be equivalent to those ranges prior to breakdown too. As shown.

The volume increase on the 29th sealed the deal for me.
I would short it down a little on the break below the low of friday's doji if the stoch's were a lot higher. But given current look, I would just wait it out.