The month long consolidation pattern may be at an end. It was really difficult to get a grip on the nature of the decline, I had to rework it several times in the end I went for a simple ABC correction which began to look as if it could be complete from thursday last week. Of course as I said in the weekly forecast it still looked choppy and needed some resolution. The gap higher may have provided that resolution on Monday morning. The DOW has jumped over my blue trigger line which meant I was looking ot buy. I allowed a partial retrace and waited for what looked like a new turn higher. Buy order activated at 20743, I could not believe the margin reguirements $420 required for each $1 position, that just seems insanely high but I had little option, as a result trade is on for only $3 per pip
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