Analyze this chart for Monday.

C

ChkitOut

Daily Chart.

I'm thinking long bias Monday with price trending up fairly methodically.

What do you think?

6E Contract.

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2807666>
 

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I would be looking for a buy around the mid point of the last long up candle. To pull the trigger, I'd want to see support come in. I'd size the position by placing a stop below the first low of the double bottom.
 
Short.

GS + volcano + no relevant short inventory -> way down is free.

(btw this kind of chart gives hardly any relevant informations - they are simply not appearing in it)
 
I agree. Day trading is like crossing the street. Watch the traffic (price and volume) that you can see and make a decision. What traffic was like yesterday or what I think it will be tomorrow is irrelevant.

I started day trading after about 8 years as a position and swing trader. That type of trading required a clear bias in order to make a trading decision. I was not successful at day trading until I "unlearned" that way of thinking.

Quote from Optionpro007:

imo having a bias for a day trader is......lethal...

just saying..
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Quote from ChkitOut:

Daily Chart.

I'm thinking long bias Monday with price trending up fairly methodically.

What do you think?

6E Contract.

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2807666>
More...

Based on this chart alone, I'd go short. Price had failed to make a higher high, next target the DB support zone.

I could never make volume work for my trading, so I don't consider it.

BTW, it also looks like one of those bearish Gartley patterns.
 
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