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Soultrader

KOSPI - Rangebound Trading

By Soultrader, in Swing Trading and Position Trading

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Soultrader    12

Soultrader
Posted

Thought I would post this chart, have been waiting for this setup for a possible swing back to the bottom of its range.

 

Clear selling pressure at the top of its range... with heavy decline into the close.

 

attachment.php?attachmentid=12057&stc=1&d=1247126331

 

 

Also note the range occurring after a decent uptrend.

 

attachment.php?attachmentid=12058&stc=1&d=1247126454

 

Possible clues include the bar on July 7th. Samsung Electronics rose to yearly highs due to strong quarterly earnings forecast. However, foreign investors sold on that day triggering sell programs... we tested the 7th high again today and failed.

 

attachment.php?attachmentid=12059&stc=1&d=1247126791

1.jpg.bb736c7d10693b3a11989f6738fbd5d9.jpg

2.jpg.9e74a97d8bd2f6d9417eaa8ed126b318.jpg

3.jpg.beebf1eff5704e757286294705136d92.jpg

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