Wednesday 17 June 2009

GEPPY CHRONICLES: SELL MORTIMER SELL


That short pressure we have been getting on the smaller TF's has now spilled over to the daily..stochs are now triggering a sell (they are now below the 80 level).
This is not the start of a new trend downwards..it's a retrace or corrective swing as far as the daily and weekly TF's are concerned. It's an opportunity to re-load longs at lower levels.

As for the right now..lots of opportunity to make pips to the downside with a final TP @ 153/154. If you stick with the 4HR chart for now..it's a simple sell on bounces until all TP levels are reached.
That's my strategy for this week at least, looking to just short for now. PA should retrace to 159/160 zone ( don't be surprised if it goes slightly higher..) but if it doesn't I've got my sell finger on the trigger.
I will be using a standard SL with all the sell orders this week, If i get stopped-out I'll re-enter at higher level unless Monday's high is taken out.

There is actually a buy and sell squeeze play in geppy..but that i will try and post later

Happy Pippin

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