Showing this 5-min. chart from TF.
One can find a long trade before lunch time with the rising 20MA.
And another trade, a short one, showing and "h" pattern type.
Sometimes recognizing a pattern such as this chart can give us an edge.
Tuesday, January 11, 2011
Observe & Trade
Not a good day to trade today for the market movement is erratic.
Can't find a nice location to trade though there are some areas that seems probable but not for this observer.
The market was controlled by the quants or the whiz geeks.
The market today is not for discretionary trading in my opinion.
Monday, January 10, 2011
Observe & Trade
Showing the 5-min. chart from TF (Russell 2000) and NQ (QQQQ).
Both of them penetrates above the pivot and the previous close.
These are the kind of setups that are low risk entry.
Observe & Trade
Showing the 1-min. chart from DJ-30 (YM).
A fast short trade netted 20 points ($100.00) for a contract.
Sunday, January 9, 2011
Observe & Trade
Showing this 3-min. chart from Russell 2000 (TF).
Shorting TF from the pivot line and exiting it below the S3 can make a nice profit.
If the entry was at 792.00 and the exit was at 779.00, that's a clear 13 points ($1,300.00 for a contract).
Trading this kind of pattern needs patience and concentration in recognizing its movement.
A familiarity is quite important.
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