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102 Katige High = 1727 Lou = 1579 (Full Line) Outer High = 17&4 Im = 1532 (Dotted Line) CLC Inner High = 17B4 Low = 1592 HidOut Hi = 1749 Lo = 1547 (Dashed)  xK= 64 XD= 64 D=0595 0=1653 H=1659 L=1631 C=1632 Figure 26 0505. There are some important things about market symmetry that I want to point out on the Crude Oil chart. By this date (25 days} it was clear that prices were in a trading range. I had already had the basis for an envelope and had drawn one based for its inception upon the day after the large magnitude move that had made the high of the last leg up. Interestingly, the bottom of the trading range was just fractionally above a 50% Fibonacci retracement of that last leg up, while the outer low of the range was slightly above a .618 retracement. Because ! had already drawn the envelope 7 days earlier, I began to very carefully scrutinize all possible trades in Crude Oil. For example, on 0424 {shown with arrow), the weekly oscillator notched down based on a large one day drop. The daily oscillator was not yet oversold. Normally I would have tried to sell a breakout of the low. But because that low was already half way across the trading range, I skipped taking the trade.
Rancfs High | - | | = 6B38 | (Full Line) | | Outer High | = 6240 | | = 5999 | (Dotted Line) | | Imt High | = 6178 | | = 6061 | KidOut Hi = 6225 Lo | = 6014 (Bashed) | | | | | | |
633? 6206 6075 5943 5812 5681 5558 Mrmi  ST0C"5*"3 i XK= 6xD= 6 D=0427 0=6063 H=6074 L=6048 C=6057 Figure 27 On 0427, the Swiss Franc had been in the envelope for 24 days. My buy stop was at 6241 and my sell stop was at 5999. On the twenty-fifth day, prices gapped down on the open, rallied a bit, and finally closed at 5989. My fill, "stop close oniy," was 5990. I had no Fibonacci projection for this trade. I figured that this breakout might be a continuation of the previous downtrend, so 1 kept my stop at 6039 and held my breath for a couple of days. Then prices started down in earnest. I trailed my stop as shown on the chart, and was stopped out the day after the lowest low.
7B58 6986 6922 6858 6794 6667 6693 6540  STOC 5 3 D--0501 Figure 28 0501. With the weekly oscillator for Live Cattle starting to step up, and the daily oscillator making rising bottoms, I called in an order to buy a breakout of the ledge that had previously formed. I had called in the same order the previous two days. I was filled on the day shown by the cursor, with my stop below the low of the previous day. I then trailed my stop until I was stopped out on an outside day as shown.
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