The labeling is why I suggested it would resolve to the downside
PRIOR to the break. Triangles are often draw incorrectly but when
they are valid they produce great setups. Just last Friday,
one broke to the upside. This was a very objective trade setup that
was shown earlier on the blog. In addition, the short term
symmetry remained bearish (never took out resistance) after the
break to the downside. I sure hope so prospered on this setup
today as I spent considerable time outlining this pattern as well
as keeping you posted on the resistance levels.
Posted by splitrim on 22nd of Jun 2010 at 09:54 pm
Thanks Steve it was a great help.
Not being able to
follow the market all day it makes it nice to be able to pull up a
few charts for some quick updates.
I was able to tighten
up some stops and take some profits.
Forgot to post today but you guys(Matt/Steve) did a great job of
keeping all of us informed of the changing dynamics.......It was
really appreciated and although I know you guys can't do it as much
every day it was very helpful....cheers
Thanks for the feedback - it's really nice to hear after working
hard to assist the members. We are far from perfect, but we
truly strive to help 'every' member in some way. We are
planning to do some more brief educational videos (maybe even a
weekend chat) to help members understand these tools we present.
We just need some more time since our families are already
wondering if we have lives away from the site.
Here is a textbook pattern unfolding.
Posted by steve on 22nd of Jun 2010 at 07:59 pm
The labeling is why I suggested it would resolve to the downside PRIOR to the break. Triangles are often draw incorrectly but when they are valid they produce great setups. Just last Friday, one broke to the upside. This was a very objective trade setup that was shown earlier on the blog. In addition, the short term symmetry remained bearish (never took out resistance) after the break to the downside. I sure hope so prospered on this setup today as I spent considerable time outlining this pattern as well as keeping you posted on the resistance levels.
great charts, Steve!
Posted by dallassteve on 23rd of Jun 2010 at 08:57 am
Let me add my thanks for keeping us up to date. I really appreciate your comments during the day. Very helpful!!!
You prepared us well in advance, so I had scaled into TZA and SDS.
I could not be at my computer for the last hour of trading, but I was all set up with my conditional orders in place.
Steve and Matt, You guys are
Posted by steveo on 23rd of Jun 2010 at 05:30 am
Steve and Matt,
You guys are simply the best. I don't get to day trade much these days, but sure appreciate the info and well presented guidance.
Thank you, Steve. Your market
Posted by heided19 on 22nd of Jun 2010 at 10:30 pm
Thank you, Steve. Your market analysis is consistently excellent, and you host what is by far the best trading community I've encountered.
Thanks Steve it was a
Posted by splitrim on 22nd of Jun 2010 at 09:54 pm
Thanks Steve it was a great help. Not being able to follow the market all day it makes it nice to be able to pull up a few charts for some quick updates. I was able to tighten up some stops and take some profits.
Forgot to post today but
Posted by bullau on 22nd of Jun 2010 at 11:42 pm
Forgot to post today but you guys(Matt/Steve) did a great job of keeping all of us informed of the changing dynamics.......It was really appreciated and although I know you guys can't do it as much every day it was very helpful....cheers
Thanks for the feedback -
Posted by steve on 23rd of Jun 2010 at 12:01 am
Thanks for the feedback - it's really nice to hear after working hard to assist the members. We are far from perfect, but we truly strive to help 'every' member in some way. We are planning to do some more brief educational videos (maybe even a weekend chat) to help members understand these tools we present. We just need some more time since our families are already wondering if we have lives away from the site.
Take care
Excellent job Steve! Thanks for
Posted by pebs on 23rd of Jun 2010 at 12:14 am
Excellent job Steve! Thanks for the road map today!