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95 7169  STOC 5 3 1 xK= 46 46 D=0104 0=6744 H744 L=67B1 C714 Figure 5 0104. The weekly oscillator for the Swiss Franc had been falling and was pointing down. The daily oscillator had corrected and was beginning to turn down. Prices gapped down and took out a Ross hook. I placed an order to sell a breakout of the low at 6699, and was filled the next day as prices made a large move down. I called in a stop at breakeven. The next day prices dropped down on a gap opening, I moved my stop to just above the close of the day I got in. Prices moved down again the following day and closed at the high, I moved my stop to just above the close of the previous day. Again prices dropped and so I moved my stop to just above the high of the day. I was stopped out there the following day as prices rallied.
2550 2488 2426 2365 ™., 2241 <- 59 Mracenent rr ] ir Sell 2417 <-Stop (-Stop ,<-Stop 2180 .Ill | | | | \ a(-Failure/ \ / | | 25 \/ | | | STOC 5 3 i X7 \ |
•d 56 /j)= 56 D=0189 0=2439 H=2459 L=2418 C=2439 Figure 6 0104. Bean Oif has made a leg down and then almost a 50% Fibonacci retracement. I began by selling a breakout of the low of 2418, by placing a sell stop order in the market at 2417, with a reversing stop at 2451. If I would have been stopped out, prices would probably test those old highs and Id have a chance to recoup all or part of my losses. As is shown, I was filled the next day at the open which was at 2410. The daily oscillator had retraced out of the oversold area and the weekly oscillator was definitely pointing down. Ive shown the level of the Fibonacci lines and Ive noted the failure swing of the daily oscillator. I like to see failure swings approach the 50% line before entering or adding to a trade, but it doesnt always happen that way. Ive indicated where my stops were as I trailed them along. Notice that I was able to get a jump on the breakout of what turned out to be a l-ll-lll high formation.
7169 6935 681? T I / 6582 6465  STOC 5 3 1 iH= 25 yJ)= 25 D=B112 0=6553 H=6565 1=6519 C=6526 Figure 7 0112. After rallying only one day, prices for the Swiss Franc made a lower high and a lower low. The weekly oscillator was still pointing down. Even with prices continuing to move down, the daily oscillator would come out of oversold giving me room for another short sale. I placed an order to sell the Swiss if it took out the days low, The next day I was filled on a gap opening at 6469. Prices closed at 6464, after rallying earlier in the day. My luck held out the next day as prices once again gapped down. I moved my stop to 6464, and was almost taken out there. I moved my stop to 6462 when prices gapped up the next day. The following day was a blow off day, and I was out having made seven points.
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