Posting of Real-Time Trades and a VERY SIMPLE technique that makes TRADING SIMPLE!!!
Tuesday, April 8, 2008
Not bad
Asia in the red and the futures starting lower!! We haven't had a good week in a while but still have avoided taking losses. Thats what it's all about, book em when we're doing good & add em on the pullbacks!!!!!
I know squat about TA but if you look at the USDX on the 1 month chart and the last half of the 3 month chart it clearly looks like what they would call a pennant formation.
This would indicate a large breakout in one direction or the other coming soon.
Worsening fundamentals in Europe would drive the dollar up. All the Fed inflationary actions would drive it down.
It'll be interesting to see if there's any water to this, which way it goes and if POG follows inversely.
2 comments:
Joe,
Here's a really neat link:
http://www.optionpain.com/MaxPain/Max-Pain.php
I'm not into options but this is a great, immediate visual of where traders think a stock will go. Put in skf, srs etc. and give it a whirl.
I know squat about TA but if you look at the USDX on the 1 month chart and the last half of the 3 month chart it clearly looks like what they would call a pennant formation.
This would indicate a large breakout in one direction or the other coming soon.
Worsening fundamentals in Europe would drive the dollar up. All the Fed inflationary actions would drive it down.
It'll be interesting to see if there's any water to this, which way it goes and if POG follows inversely.
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