IMI PLC

Im long on this already but thought id point this one out.
Possible 123 low formation for the short term and price has come down since but still valid.
stops should be below the trend line.


dl.dropboxusercontent.com/u/4899609/imi17thdec.png

Perfect trade....
This is what normally happens when a trend line breaks after a long time. Thats why trend lines should be respected.


dl.dropboxusercontent.com/u/4899609/imi24thjune.png

ive gone short now with a 20 point stop

This is bang on the trend line....
Normally id go long from here. But now with the markets the way they are im avoiding going long from the trend lines for the time being.
But i will short this if it goes through and back tests the trend line with tight stops.

If this goes through by 4.25pm i may take a small short with 20 point stop.


dl.dropboxusercontent.com/u/4899609/imi21stjune.png



dl.dropboxusercontent.com/u/4899609/imi21stjune1.png

This is looking good for a retrace to the target area between 50% and 61.8% fibs before proceeding higher.

This looks a good possibility and may well make 1550, though I'll probably chicken out at 1500 Certainly the fib structure is sound. I will enter on a break of the downtrend line from 1370 which is current 1260 but DYOR.