Observe & Trade*

Tuesday, February 8, 2011

TF resembles a kind of a "dragon wave" pattern develop today as shown.

Though a pennant triangle can be considered, but there's not much a nice location to put a trade as far as I can observed.

It's a see saw battle most of the trading day except in the latter part.

The market went upwards early in the open and stay (almost) there till the closed.

Buying in the open any of the four core markets can make a good paycheck for the day.

All of them made similar moves.

A very volatile market early in the open up to around lunch time last Friday.

TF made a double bottom or a "W" pattern.

YM and ES made a similar move.

NQ was the right one to trade as can be seen from tight consolidation.

A down market today due to Middle East problem.

A short trade in the open from any of the four core index is a sure paycheck for the day.

A dramatic surge from the whole market index today.

Any of the four core index can make money in trading today.