Long-term trends and price patterns are always more reliable and significant than those in the short-term, and since I'm not a day trader, I only get to that granularity when pinpointing entry points. In either case, this (below) is something to consider, perhaps for a gamble.
If you don't like the risk (or have the luxury/cojones to day trade at work), then during times of vastly limited trading opportunities - paper trade - and keep your mind/trading skills sharp for when it's time to jump back in... because it will happen quick.
(click chart to enlarge)
Showing posts with label price patterns. Show all posts
Showing posts with label price patterns. Show all posts
Wednesday, October 22, 2008
Stay sharp, Big Tuna
Labels:
price patterns,
QQQQ
Tuesday, September 23, 2008
Some long-term price patterns continue to work
I suggested a couple of weeks ago that when long-term support (>2 yrs) was breached, prepare for a re-test of the underside of the same trendline before continuing lower.
Granted, there were roughly two dozen extenuating circumstances since then that might negate such patterns from coming to fruition; however, it looks like despite all that, some price patterns may still hold - albeit in a quicker and choppier manner than I imagined. This applies to several oil, steel, ag, coal, etc stocks.
ACI and POT are other great examples.
Labels:
oih,
price patterns,
trendline
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