yep falcon - you had to buy it yesterday inside the
pattern, in hindsight I should have done that, I knew it was a
matter of time before it broke out, but sometimes as technicians we
try to be perfect and wait for the perfect break, but this market
doesn't always let you do that.
As a real time example, we'll see this same effect with the
market on Monday, right now the SPX has a potential inverse H&S
pattern, however we are likely to get some big gap on Monday.
You could buy inside the pattern, but then you risk a big gap
up or down on Monday
Otherwise over time I have learned to a lot of my trade ideas
inside the pattern vs waiting for a break, I dont' always do it,
but I practice that a lot and it works well, which makes sense
because most of the patterns we post are good patterns and end up
playing out anyway, so why not buy early inside the pattern,
especially if you see a MA or other logical support.
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yep falcon - you had
BOIL natural gas
Posted by matt on 14th of Jun 2012 at 11:16 am
yep falcon - you had to buy it yesterday inside the pattern, in hindsight I should have done that, I knew it was a matter of time before it broke out, but sometimes as technicians we try to be perfect and wait for the perfect break, but this market doesn't always let you do that.
As a real time example, we'll see this same effect with the market on Monday, right now the SPX has a potential inverse H&S pattern, however we are likely to get some big gap on Monday. You could buy inside the pattern, but then you risk a big gap up or down on Monday
Otherwise over time I have learned to a lot of my trade ideas inside the pattern vs waiting for a break, I dont' always do it, but I practice that a lot and it works well, which makes sense because most of the patterns we post are good patterns and end up playing out anyway, so why not buy early inside the pattern, especially if you see a MA or other logical support.