Analyze this chart for Monday.

I see one more hint on that chart not stated but yes I went long Friday at the close.


in my opinion this is a high risk trade with a very good Ris:Rew.

If you are betting long here it better be on a complete reversal. Otherwise it just aint worth it.
 
Quote from trackstar:

I see one more hint on that chart not stated but yes I went long Friday at the close.


in my opinion this is a high risk trade with a very good Ris:Rew.

If you are betting long here it better be on a complete reversal. Otherwise it just aint worth it.
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the gap over 1.355 was on major optimism even hallucinations, the GS story on friday pulled out the carpet on this rally.
 
Quote from tomdavis:

. . . 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.
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Tom,

That is one of the most succinct descriptions of natural intraday trading I've seen. Well stated!!

PL
 
Quote from OTCkrak:

the gap over 1.355 was on major optimism even hallucinations, the GS story on friday pulled out the carpet on this rally.
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its always possible that you are right, just not likely. Lets check back in after the close.
 
Quote from tomdavis:

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.
...
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Quote from ProfLogic:

Tom,
That is one of the most succinct descriptions of natural intraday trading I've seen. Well stated!!
PL
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Knowledgeable pedestrians also tend to know about rush hours, day of the week, seasonal and holiday traffic patterns.
 
Hmm, well looks like a bottoming bar with a nice tail so far...

<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2809267>
 

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Quote from riaamaan:

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.
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Nice call so far.
 
Quote from tmarket:

Quote from ProfLogic:

Tom,
That is one of the most succinct descriptions of natural intraday trading I've seen. Well stated!!
PL
More...

Knowledgeable pedestrians also tend to know about rush hours, day of the week, seasonal and holiday traffic patterns. [/QUOTE]

Great addition to the post.
 
Quote from OTCkrak:

the gap over 1.355 was on major optimism even hallucinations, the GS story on friday pulled out the carpet on this rally.
More...

closed a few ticks off the high. :)
 
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