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Thursday, July 26, 2012

5 Min & Daily charts

on the 5min chart you can see in the
1st- highlight that the long wicks are telling us price is hitting resistance up at these levels
2nd- highlight shows a double stack, and a some reversal off of that.
3rd- highlight again shows a double stack.

But if you look to the daily chart, to the far right you will see where the arrow is, that price went right up and test the support line.  This is a chart I drew up months ago and that I occassionally check to see where resistance and support can possible form.  You can easily duplicate this chart yourself and then watch it over time for key bounce areas.   You can see where the next low should find support at...

NY #1-9

Again, another excellent day without fake outs.  I saw a few setups i like to trade off of and they worked.  Its nice when that consistantly happens.

Wednesday, July 25, 2012

NY #1-9

Nice day no loses, was able to read and react to the market change at the end.

Tuesday, July 24, 2012

NY #1-11

Back from a little break.  Nice downtrend, testing new lows.  Dow -134 at this moment.  could see a test of the 1.1881 area soon!!! and then lower!!!!