YM Traders

Thanks marcus for the long post, I'll check out everything you read when I have a few moments, definately looks like good information.


And Volente, yes I agree after seeing the triangle formation you described and I definately see the head and shoulders patterns a lot.

Like I said, I will definately check it out, but for right now, I'll continue what I'm doing and get adjusted to trading S&R when i first open my account. Once I get settled in and used to trading with real money,*should be by end of next week, since I just sent in my funds* I'll definately check out the chart patterns. I saw a book called the Chart Pattern Ecyclopedia, that just recently came out this year, actually past few months on amazon.com. It looked like it had information jam packed on all chart patterns and gave statistics on how many times they work, they describe how they form.

So, I will check it out undoubtably in the future. Anything that can add to my trading I will consider, but until I get settled in, I must focus on what I know so far.

I appreciate all the help.
 
I also like the wedge breaks in the middle or late day market activity. I'll post several charts to show what I mean.

Hope that you don't mind that they are ES charts, since that is what I have on file. The YM and ES markets typically form similar formations throughout the day.

I like what you guys are doing with this thread.

Charles
 

Attachments

Charles, do you happen to have any specific website or resource that helps with understanding wedges and such.

Looks like a good method of catching a good trade.
 
I´ve been looking at my charts trying to identify patterns. I don´t think the ascending triangles are so reliable in a downtrend. I´ve seen a couple of examples that looks like the one i post here. A downtrend, an ascending triangle and then price continues to go down. So the question is if we´re in an uptrend or downtrend....
 
You must log in or register to reply here.
Back
Top