Gold's Two 'h' Pattern

From this one-hour chart, I guess two 'h' pattern  is enough, a third one is too much? What do you think Gold 'diggers'? I guess for today's session, a sideways or third drop is the battle, but by Wednesday and Thursday, a consolidation for the hard bounce is expected. Let's see.

Tip Alert: Crude's Possible Upside

Shown is the one-hour chart of the Crude prior to Calendar event(s) housing report by 10 am ET. I guess based from this chart, a possible upside for the Crude is possible. Two consecutive 'Darvas' box? is the basis for my observation.

Bear Flag Trade Setup

This time the market tumble some more with that bear flag pattern, surrendering further to selling pressure.

http://traderfeed.blogspot.com/2014/03/facing-execution-gap-running-your.html

Weekly's Market Random Thoughts

The market bullish sentiment is on idle situation with that bearish red bar with a long wick tail. Though it recovers heavily within a week, but I guess there is this tendency/sentiment from participants that there is a possible consolidation in the offing. It might drop a little bit but nobody knows, but that bar is a big concern. But from this humble market observer's point of view, the market is still on the way up with that (deep) cup with a handle pattern.

As for the Gold, that's the hardest part to make a view from the technical side, it's way too low from the ema's/ma's. I guess it might take a long time to get back from the three consecutive days of 'hard' setback. Three days of hard drop is going to take a while to recover, no idea what Gold will do from this scenario. Will take it day by day, let's just wait and watch how the HFT's miraculous ('maneuveristic') approach might/will do.

As for the Crude, it will be a long zag and zig days to come, a consolidation of hard bounce and a hard drop. It will be a day to day battle between participants, with the advantage going to those participants who has the guts to stay patient and watch the move like a hawk to their advantage.

 

 

Selling Spree

The market went on to a selling spree today, Friday, a profit taking day. Nasdaq was the leading sellers in today's market. Learned that biotech was the culprit that led traders/investors sold their position(s). Chart below was from the Nasdaq (NQ), it formed an 'h' pattern, a sell short signal.

Looking Back!

Was scanning my humble blog the first time I reformat (though I've created other blog(s) before this one, I guess almost 20 of them?) in 2010, I guess I improved dramatically in my trading. This is the process of learning, it takes time and lots of patience with it. Learning even in any endeavor takes time, perseverance, commitment, and of course your passion and the love of what you do no matter what.

As I was looking at the chart below and the time I started to get involved in the market, I can see that I was at the right time and at the right place to participate with it. I experienced the hardest part of it, the crash, the flash crash, the bulls and the bears, and of course the uncertainty. That's the beauty of being part with the market, you learned the ups and downs, and whenever/whatever that comes with it, it is already normal in seeing what the market is doing on a daily basis, no more surprises. That's how the market is, it fluctuates, if it doesn't, the market is 'dead'.

Counting the years of my participation, I guess I am on the way of riding with it. From Malcom Gladwell's book (Outliers?), and from other studies, in any endeavor or to master a craft, it takes 10,000 hours of actual practice to master it (your craft). Based from my counting, I already exceeded that 10,000 hours (7.5 years from my counting) of actual participation or learning the market.

That's just came to my thoughts today as I look back!