B1, the chart looks good for a bounce now, it actually looks a little too good to me.
So far I have realised that the clearer the divergence on short TFs (confirmations in other oscillators, repetition in longer TFs, etc) the higher the odds of a sustained counter movement. This daily BLD looks like one of those perfect plays. just have a look at RSI and CCI - both confirm a BLD signal, MACD xover occurred @ - 12, HIST has gone through 0 mark, index is sitting just below 200MA.
Earlier long shadow hammer failed, probably due to the fact that the formation has not been completed at that time. 200MA has worked as a strong resistance level @ 1260, but now we are climbing and again IMO/experience if that 200MA is broken 2nd time - resistance will fail and we would be heading for the next level.
EDIT: 2nd break of S/R levels. I use it all the time when scalping. 1/2 position on first approach and if it fails max position on 2nd approach.
And to keep it a little mystic...I had a nap this afternoon (well, u can't blame me really, can u?) and I woke up with number 49 imprinted in the back of my mind. The last time I had a clear vision like this one occurred quite a few years ago when Ireland beat Italy 1-0...I knew that score in the morning, many hours before the match happened. I obviously told my mates this and imagine their faces when the game finished. Ireland beat Italy, seemed impossible at the time.
And now here we are, gone passed 1249.00...
B1, over to you, Sir.
EDIT: In regard to the potential PTs I have set them at 1270-1290 (index), based on same principles as in shorter TF divergence PTs. I.e. the 1st lower dip in the oscillator establishes average price at that time and that becomes a PT.
