Blue bar highs and lows

Jan 4th, 2010

From the 781 low the TF rallied to the 800.00 level. This is a 10 minute pattern that we have been following and there were blue bars at the high to tell us that the move was most likely over.

From the 800 high we fell down to the 776 level where we also had blue bars at the low. Once we get blue bars we do not exit at the market we follow the bars with a trail stop at the prior bar high so if the market continues down we are still in. This is a tight stop so if the current bar takes out the prior bar we are out. It is a clear defined way to trail the stop.