XEL possible 123 low in progress

screencast.com/t/8Xh6PGaExkpa

Yes, my fine Halloween fiend, or friend, it looks like the downtrend line has been broken..... MwaaaaHaaaHaaaaaHaaaaaaa.

Hi orsotoro,
I'm not sure which downtrend line you are referring to that has been broken? If it's the LT one starting from all time high end of Dec 2010 then I don't think it's broken yet, it's around the 50ish mark atm on my (crude) chart. Also RSI is still in downtrend but about to breakout. Hoping this will complete 123 low (target at 50.23) and have buying momentum to continue further perhaps to MA50 currently ~ 55.5. I won't be too greedy though and will watch SP closely on Monday and if volume is low I would react and take profit early accordingly ')
screencast.com/t/C7mULpJj1xB

Bit better daily chart showing downtrend not broken yet

screencast.com/t/ZUkBvTqA

and close up showing also that RSI is about to break out.

screencast.com/t/Ld3BUlHKQV4

Looks like the anticipated 123 low is turning into a bit of a wet firework, since the promising rise with volume at end of last week, volumes have been pitifully low since then. I'm still holding but with stops at just below 43.

Hi Count
Any reason behind SL below 43?

Would it not be sensible to have your stop below the low of friday's big green candle or
ideally below the rising trendline ( below the low of candle on 29/10)

Dont have a position and dont see a change in downtrend here but could have been a swing day trade based on the 123 low breakout - GL with your trade