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59

4598

4215 4148

4065

reversing s

3998

ST0C5"3"1

XK= 49 XD= 49 D=8496 0=4852

H=4961 L=4850 C=4B52

Figure 27 0405. Prices move lower. The daily oscillator, now at 56%, begins to turn on 0406. Prices now stand at a retracement of a retracement, a Fibonacci enigma, which often indicates another possible congestion. 1 move my reversing stop to 4062, just above the high of the inside day of 0406.

xK= 58 yJ)= 58 D=0411 0=4070

H=40?B L=4B56 C=40&4

Figure 28 Friday 0407. Im simultaneously stopped out of my short position and am long this day, as the high fills my reversing stop at 4062. Ive lost 6 points on the original trade. On Monday, 0410, there is another blowoff day and prices close higher. The weekly oscillator is stair-stepping, so I figure Id better get out as soon as possible. 1 place an exit sell stop at breakeven and get out at 4070 on Tuesday, 0411.

 Trading By The Bool< - Part !V 4450

• -16 yJ)= 16 D=0428 0=3959

H=3975 L=3934 0=3948

Figure 29 The weel<)y oscillator stays flat until it turns down on 0428, which is caused by falling prices and a strong gap breakout to the downside. Since Ive had no previous signal bom the weekly oscillator, Ive had no basis for entering a trade. Additionally, the daily oscillator was well into the oversold area due to the breakout. Ill have to wait for another opportunity.

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