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Seems to me the only people who don't use charts are those who trade on an extremely long term basis on fundamentals. Trying to trade short-term with just DOM and T&S sounds like complete madness to me. I guess those who can play 5 blind-folded chess games simultaneously would have no problem...

Looks like a "sit and watch" day for me so far.

OK permabears, time for you to shine. :)

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Well, in my mind a triangle (for this example, a descending triangle) is where price can't seem to get lower than a certain point but keeps trying, and every time it goes up it stops a little lower. So eventually we hit the point at the end where the price busts out (usually down). Also, since...

Yeah, I could see that, but it's hard to jump on a downside breakout with the 20 EMA on the 5 minute right there.

I was looking at the 5 minute from 10:30 ct to 11 ct, after that the ascending triangle broke down.

I'm looking for another break to the upside--it's sort of triangulating.

Yeah, seems to me we're fighting about whether the uptrend on the 5-minute will beat the downtrend on the 60-minute.

I'd really appreciate it if you could post a chart showing the channel you're discussing. Thanks.

Yeesh, I didn't think it would break up, thought it might just ooze on over sideways and slightly up.

I'm gonna try again at 46.

Stopped. I successfully avoided a recent problem of mine of moving my stop to B/E to early. :/ Maybe I should have done that on a breakout trade though--any thoughts?

In it, buy stop at .55.

I've got a sell stop at .44, for the break of a kinda-triangle.

Same here--it just got its fifth touch on the one minute.

I think it was "truck the fend." :D

I dunno. I'm starting to believe IV's conspiracy theory--thinking about jumping on a big afternoon reversal.

OK, who ordered the chop with a side of froth? Please stop, thanks.

Man, I should write a book called "How to be Right about Market Direction but Still Lose Money." I swear I'd be a rich mofo if I could just get out of my own way and let my correct predictions about market direction work themselves out.