AU this week.

23 oct. 2016

AU may test nearest support but I expect an attempt to reach the MM support around 7510. May be a sell for the second larger leg down, or wait for a long around the lower support. Looking for a short, then looking to buy around the lower support area.

24 oct. 2016

Note

So far I do not see a good sell signal bar. The current bar keeps closing above 50%. So I'm waiting. Behaving more like a trading range at this point.

24 oct. 2016

Note

Decided to short anyway based on prior bear strength and the moving average. 7617 stop above the prior swing high. Target is the 7518 level. Happy trails.

24 oct. 2016

Note

Short from 7518 stop is above the micro-db top holding for the possible 2nd leg down.

25 oct. 2016

Note

closed this trade 7613. there is a higher low double bottom and evidence of good buying so better to get out while the market allows it.

25 oct. 2016

Note

after the double bottom and a failure to take out the new lows, it was clear that support was holding. The weekly is in a tight trading range so watching for more information.