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111 Trading By The Booi< - Part Vi 1829 1793 1757 1721 1684 1648 1612 1576 -short  = 41 3~- 41 D=B724 04762 H4773 , L4728 C4728 Figure 53 0724. Crude Oil had been in a wide, sideways trading range for several months. I kept drawing new envelopes as I went, trying to wrap them around what seemed to me to be the main trading range. Ive shown where the envelope was at the time I entered my next trade. Prices had made a MI-III high formation, and so I called in an order to sell a breakout of the number II point. I had no indication from the weekly oscillator as to which way to go, but the daily oscillator had been falling. I was filled on the day shown, and trailed my stops two days back until prices approached the opposite side of the envelope. Then I got nervous and stayed only one day behind until I was stopped out as shown.
Trading By The Book - Part VI  xK= 63 yJ)= 63 0=0003 0=18901 = L=9920 C=9922 Figure 54 0803. On this day, with having had three up days on the weekly oscillator for Bonds, and the daily oscillator having corrected from overbought, I unsuccessfully tried to buy a breakout of the high.
Eange High = &345 Lou = 6045 (Full Line) Outer High = 6415 Lou = 5974 (Dotted Line) SFC Inner High = 6381 Lou = 6888 HidOut Hi = 6388 Lo = 6881 (Dashed)  ?5 M | ..........................>>"\.........Z..... | 25 \ 7 V V \ t 5 71V1 | , . ".. ..\...4....................... |
Figure 55 0807. Heres how the Swiss Franc chart looked. The previous volatility had resulted in a trading range. The cursor is sitting on the twenty-fifth day. I had a buy stop in at 6416 and a sell stop in at 5973. Both orders were stop close only. On the thirtieth day, prices closed out of the range. I placed a protective stop at 6046 and waited. Sure enough, a reaction took place and I was almost blown out of the water on the last day of the correction. Then prices started down and I trailed my stop closely. I was stopped on a scary outside day as shown. That scary day made me take a much closer second look at this market. Ive shown what I found in Figure 59.
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