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49 The twenty-second bar of congestion moved up nicely. !t had good momentum, and I thought to myself, "maybe this is it!" One more bar and I could place niy buy order in the market. SP 5 niNLJTE Well, it wasnt "it." I would have to be patient. The revers.sl bar hi-id broken the uptrend, i hatJ to rephrase my segment count. 5 ninUTE 8 9 llll \ 37860 37040 37820 37860 377B0 37760 37740 37720 37700 37680 37660 37640 37620 37600 37580 37560 37540 37520 37500 37480 37460 37440 37420 37400 373B0 37360 E - 3 bug 37B60 37D40 37C20 37C0G 377E0 37760 37740 3772G 37700 376B0 37660 37640 3762G 3760G 375B0 37560 37540 375ZG 37500 374E10 37460 37440 37420 37400 37380 37360
I was s bit disappotnicd, bul my training and discipJiiie caused mo ;o draw the gmenrs and number them on the chart. If I got a hrcaicovJt of the liighcst high. I ouJd buy it. Otherwise i would still, by definition, be in congestion. However, it s getting fate in the day, I decided to trade only a five lot. SP 5 HIMUTE 37D60 37B40 37 37BO0 377 37760 37710 37720 377D0 376B0 37660 37640 37620 37600 375B0 37560 37510 37520 37SO0 71 0 37160 37110 37120 37100 373BG 37360 3 8 9 Once again prices proved to bo tn congestion. To show that the mari<et lad no idea of which way to go, prices formed a do i. Despite the fact I now had a shifted throe count to tfe upside, 1 wouldnt dare enter a trade that foiled to take out tfie fiighest fiigli. SP 5 niHUTE 3 8 Hill hit 1 7 60 37840 37820 37BO0 37780 37760 37740 37720 37700 37680 37660 37640 37620 37600 37580 37560 37540 37520 37500 374B0 37460 37440 37420 37400 37380 37360
The S&P was shIl in a trading range, I would wait to see if prices took out that highest high. My only other choice was if I could got a breakout of a three count to the short side before the market ciosed. SP 5 nmuT£ 3 0 37860 37G40 37820 37800 37780 37760 37710 37720 37700 37680 37610 37620 37600 37580 37560 37540 37520 37500 374D0 37460 37440 37420 37400 373BG 37360 The next bar kiJIed the uptrend once again. I cou!d now 1) only three segments going down. Somotirries the S&P rnakcs a big rrine right at the end of the day. It was too late in [he day to catch it. There would not be enough bars to suit me. SP 5 fflhUTE 3 8 :ei 1 37Q60 37B10 37820 37600 37780 37760 37740 37720 37700 37680 37660 37610 37620 37600 375B0 37560 37540 37520 37500 37480 37460 37440 37420 37400 37380 37360
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