So far my short trade from Friday has turned out to be quite profitable. Since the top, price has been clearly defined in a downward sloping channel. It is likely that there will be another low to complete the motive wave, however if price breaks sharply through this channel I will be looking to get long on a pullback and retest of the top channel line. I have moved my stop loss to 88.8 to protect profits.
Monday, December 14, 2009
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