Nice short at the open after the first half hour.... a perfect triple top ... and a close on the PD double bottom at 9820 for a few points. The hard part was getting the next entry. Clues were the total weakness in the bounces off 9832 which in itself was another clue as it went from support to resistance. This often happens, so a short entry just after 19:00 as the price pulled back a tad towards 9832... After a long steady drop in RSI, you would expect the price to move up, clearly it didn't. It was welded to 9830/40. The first pullback around 9820 gave a target of T1. The second pullback to 9800 gave a target of T2 ( both from 9850 although you should have used 9840, being the last major high). Even so, the targets were met. So there we have 2 targets, all met, and on the second one, there was the 3rd peak to make a 3 pk PD bottom and an out for a nice bag full. Those on 5/10 mins would have bagged almost the whole move in one hit.....
Please remember how 32 and 64 form regular tests of support/resistance.
Here are the basic PD rules: At the open , if you see a 3 peak PD in a long drift down , don't go long on the 3rd peak!. WAIT until the price makes a higher high AND a higher low. Cover a short and take the points if you feel unsure. IF you have a decent profit from the short, consider waiting for the higher low before covering, or cover half and wait for the higher low to cover the balance. At any other time, take ( wait for) a 3 pk PD to confirm a bottom.
Did they take out the stops at 9800 too? I wonder.... Whatever, a long after 1 hour's PD and hold was the order of the day, with a close at the ND top/resistance at 9850.
