ABB Chart

OPPOSING ACTION---Completed SHORT

What we also know is that we can take EITHER SIDE of the trade.  In this case, and yesterday's action, though contained in a CHOP ZONE I refer to as a BATTLE ZONE, there is still money to be made, so long as you know where price IS in the scheme of things.

THE SHORT level here, drawn from $54.08 down to 52.58 (notice the rounded centuries again, being tested, 54 and 52.50??):  WE HAVE THESE CHARACTERISTICS of yesterdays trade.

>>>>Price moved up and as usual, TESTS PAST the reversal point, 53.33 and actually moves back up very close to our 53.50...up to 53.46!

>>>> THEN, the sellers took control and we can CLEARLY see what I refer to as STACKING CANDLES and SELLING FORMATIONS that took price all the way to the GREEN LINE (dashed) which is the -23.6% line, rounded up and we HIT OUR TARGET effectively.

WE do not trade to targets. Instead we:

1. IMMEDIATELY TRAIL to plus one to five ticks from entries.

2.  TRAIL TO KEY CENTURY LEVELS as price moves in our direction (short in this case) and we exit trades when we achieve 10, 15 and then 20 ticks or better.

Dave