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58 | | Trading By The Book | - Part iV | | | | | | | 4599 | | | | | |
4515 4440 4365 4299 4215 4149 4065 out -I) 3999  /! = 8xD= 8 D:0330 0=4865 H=4970 L=4020 C=4B38 Figure 24 Im fiiied at my price of 4124, and the market moves wonderfully lower. I move my stop down to breakeven including commissions and fees. On 0329, the market is definitely oversold, so I move my stop to just above the high at 4066. The weekly oscillator is pointing down. On 0330, Im stopped out, but with a profit. Ill wait for a retracement, and if it comes with the weekly oscillator stiil down, I will short.this market again.
 4Z15 ll. ti 4140 feyersiTisf stop -> sell stop 3990  SIMS 3 1 D=04B3 Figure 25 On 0331, the daily oscillator turns up, beginning a correction. On 0403, it moves out of the oversold area. Prices are at about a .382 Fibonacci correction of the last swing down. The weekly oscillator is still pointing down, I place a sell order at 4056, with a reversing stop at 4085.
Trading By Ttie Boole - Part IV 4590 4515 4446 4365 4290 4215 4149 4065 short her 3990  STOCS"!"! xK= 54 X])= 54 D= 0484 0=4087 H=4B96 l=4B55 C=40?6 Figure 26 0404. Prices open at 4087, well above my sell order. They then mov to the high of the day, then to the low of the day, filling me along the way, and finally closing above my entry point. This is a small blowoff day. Possibly the major trend would now continue. What I call a blowoff day is what other traders call an outside day.
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