Friday's Market

Though today's market, Friday, supposed to be a profit taking day, but the ES made a surprise move, it surge vertically in the open that caught some participants off guard and were left out, or what they call a short 'squeeze'?

The Gold continues its downward projection that there is no sign of relief, I guess its 'melting' will last to the last ounce, not a good sign.

As for the Crude, it is surging slowly, lots of motorist are still filling their old SUV with premium gasoline, Elon Musk should lower the cost of his Tesla cars to prevent the surging cost of the Crude I guess.

 

 

Trading By Myself

Just to summarize my Crude trade that I had shown in real time (though delayed a bit, but if you are alert even though you're a little bit late in seeing my alert, you can still gain from my humble tip(s)) about my  'Tip Alert' post, I am just going to show here or prove that I can make a trade based from my own learning through technical observation without employing 'sophistication'.

As you can see from  my alert, I've shown a 1-hr chart with a box showing the hard bounce and the hard drop in succession, four days of bouncing from the s/r level (you just have to figure that out for you to learn, I am doing this for educational too). I am just making my own interpretation from this box as a 'Darvas' ( I just don't know if that's what really is, I don't care but that's how I do my own observation, that's why my blog is about that).

So from this observation, if you are (only) observant in the market (and was reading the 'minds of the market'), you know the market is an exercise of human behavior, so you have to learn more about psychology in this case. With this kind of pattern, the most probable outcome is for the market to move up. Why did I came up with that? Simple, have you seen the 'rapid' move upwards on the left side (the one that I cover (half of it) when I drew the rectangular box. That's my basis that it is going to make a move.

Also, from the 5-hr chart, the pattern is a 'saucer pan'?, or a shallow cup with a handle pattern ( we need to familiarize ourselves with the different market patterns, that's important), signaling a bullish move is in the works.

Also from the daily chart below, the big bullish bar is a sign that there is a follow through.



That's the basis of making that trade through my own observation, that's what I call 'looking at the whole market structure'.

See, Crude is still cruising as of this posting...

Crude's Tip Alert Successful

That's enough for 75 points gain, Crude's Tip Alert Successful...

Crude's Tip Alert Update

It is really moving upwards...

Crude's Tip Alert

Now Crude is on the verge of moving upwards?...

Crude's Rallying Point?

I guess this time Crude might rally, the last time I am anticipating to make its move and that was two days ago was stalled, this time there is a chance it will...it was a battle of hard bounce and a hard drop the last four trading days...I think that was enough already, and this is the time now, let's see...

What's Going On?

As of this posting, the market is still dropping, it doesn't show any sign of recovery, usually by this time it is showing a sign of 'breathing', but as of this moment there is no sign of recovery, what's going on Mr. Market?...