After much deliberation, (pause) I'd be more inclined to watch for a short, but it's in the middle of shooting to the stars, so I'd need some good confirmation.
I don't have the data, charts or knowledge of this instrument.
good evening all :D
some basic POT analysis, before the BHP takeover bid. A basic illustration of the information presented by the chart before the news. You should have only been long or have had no position.
critique at will
you see Saddam had sons, Uday and Qusay buy all the CL contracts prior to the invasion, hence price was effected, forming a Inverted HnS prior to the news :D
From the The New Market Wizards Jack Schwager : AL Weiss
==== Why have you chosen a purely technical approach in favor of one that also employs fundamentals?
====
Many economists have tried to trade the commodity markets fundamentally and have usually ended up
losing. The problem...
Exactly, that's what my point is (although I did not make it clearly :p). We develop a our trading system on clean charts. entry exit rules etc. But when it comes to the crunch you have everyone rationalizing the trade on fundamentals which leads to trading with the sheeple. Unless fundamental...
We can revisit this in the future and find the answer.
Its Pure TA, on my part and I'm no expert in its application nor is it 100% accurate.
Unless you review your past charts which have in large red ink every news item and big arrows like - Ben Bernanke made bearish comments at this...
No I dont use this software and have never tried it. It seems it was once exclusive software and now this (cut down) version is marketed to the masses,
Dr. Alex Bogdan a.k.a Maestro, abogdan, was one of the developers, I'm sure he has a few unique tools under his desk...
That would be illogical, I'll leave you to figure out why.
"America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves."
-- Abraham Lincoln