This chart, which was adapted from one of Matt's, has been
keeping me sane through all the twists and turns. If banks are
going to lead the way then this chart should provide a very
objective roadmap. Let it break the MA(34) prior to any long
exposure. Support then objectively becomes the MA. Currently if
anything I'm seeing a bear wedge and don't really feel the need to
try and position myself in either direction. Maybe that's because I
was one of the many that got frustrated over the past week! Stay
sane and trade based on the charts.
Chart that is keeping me sane.
Posted by manson805 on 27th of Jan 2009 at 01:26 pm
http://stockcharts.com/h-sc/ui?s=$BKX&p=60&yr=0&mn=2&dy=20&id=p49368402232
This chart, which was adapted from one of Matt's, has been keeping me sane through all the twists and turns. If banks are going to lead the way then this chart should provide a very objective roadmap. Let it break the MA(34) prior to any long exposure. Support then objectively becomes the MA. Currently if anything I'm seeing a bear wedge and don't really feel the need to try and position myself in either direction. Maybe that's because I was one of the many that got frustrated over the past week! Stay sane and trade based on the charts.
If you take a look
Posted by saturn6 on 27th of Jan 2009 at 01:40 pm
If you take a look at the financialsthere is a bullish Ascending Triangle forming.
Posted by saturn6 on 27th of Jan 2009 at 01:48 pm