By Trader on
11/18/2009 7:27 AM
March 120 min / 240 min chart has nice breakout formation. Should resolve itself sometime over the next 2-3 days.
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By Trader on
10/28/2009 8:13 AM
3 pushes down on 120 min chart on silver. Should lead to nice bounce up.
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By Trader on
10/21/2009 8:19 AM
Cotton had a breakout from a sideways line / triangle chart formation on the daily charts. We have the first pullback on the intraday charts. Buy with stop below 64. Daily chart is shown below.
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By Trader on
2/26/2009 6:49 PM
Gold had a nice run up on the daily charts and has pulled back to the 20 period daily EMA. The ADX is above 30 making this a classic Linda Raschke Grail Buy.
GE on the other hand has had a nice run to the down side. Thursday it close above the 5 period SMA on the daily charts after closing below it for 8+ consecutive days. This is usually a shorting opportunity. ...
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By Trader on
2/23/2009 9:14 PM
The British Pound is getting closer to it's descending trend line again so look for shorting opportunities if it manages to get up there. A good trigger would be a trend reversal pattern on a 5 min chart after it hits the trend line but, I think you'll have to tape read your way into this one on the intraday timeframes.
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By Trader on
2/22/2009 10:03 PM
Coffee is getting down into a support area after spending a little bit of time in the overbought zone of the 14 period CCI. Usually, in situations like this you can buy the the first move into the oversold zone for at least a scalp. But, let's make sure that price wants to go up first so buy it above Thursday's high (110.60 for March and 113.35 for May). The chart with the possible support area is shown below. Momentum is starting to stall out as it approaches the level marked on the chart.
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By Trader on
2/19/2009 9:30 PM
Sometimes the best trades set up at the point of maximum danger. The Japanese Yen-US Dollar cross rate is in an uptrend on the daily charts. It has retraced back to the point of it's prior pivot. IF this pivot holds then there is a good possibility that you get a very good up-move. So, buy the Yen above thursday's high. Set the stop to either below Thursday's low or Today's intraday low - whichever is lower. That daily chart is shown below:
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By Trader on
2/18/2009 8:27 PM
Bonds just had the first major reaction after an extended downtrend. You can see this downtrend by looking at how much time the CCI oscillator spent in the oversold region. This is the first time that we've gotten back above the overbought level since that run. Usually, this means that there is a decent swing move back to the oversold level to retest that area. So look to work the short direction by shorting bounces and using appropriate stop levels for your account and risk tolerance.
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By Trader on
2/17/2009 7:49 PM
Ok, so once again, we have what looks like a breakout from a coil. Therefore, we have to go with the flow and short any bounce. Stops should be at Tuesday's high. The chart below shows the S&P cash market with the converging trendlines and the breakdown bar. The second chart shows the same picture for the March S&P e-mini contract.
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By Trader on
2/16/2009 7:25 PM
Wheat has formed a descending wedge as shown in the daily chart below. Watch this formation for a breakout and then go with the flow (i.e.: trade in the direction of the breakout).
IGT has formed 3 waves down on our oscillator. So, look for a bounce - buy above Friday's high with a stop at Friday's low. Don't plan on holding this trade for along time - it's only...
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