Posted by trade_happy on 3rd of Apr 2009 at 01:26 pm
I'll tell ya' what: I see a real clear Bull Pennant on
that 5min chart of the $DJR, and likewise a REAL clear Bear Pennant
on the
SRS, both 30min, 15min, and 5min.
It's possible that 110 Resistance Line will soon be toast - at
least something to really watch for, especially in this Primary
Wave B we're riding.
Posted by trade_happy on 3rd of Apr 2009 at 02:10 pm
On that 1min chart, that shape you see that looks like a Cup and
Handle is tilted, I think, too much to be a C&H - you wanna see
those level. However, what you're looking at is STILL
something that indicates upside. Here's why: it's
basically a strong uptrend that goes into sideways consolidation,
and in those instances the chart tends to leave consolidation in
the same direction in which it entered consolidation, in this case
UP.
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SRS
Posted by drorlando on 3rd of Apr 2009 at 12:14 pm
stopped out @ 45.5 and just too nusy to trade. Sorry
You need to take quick
Posted by dodgerdog on 3rd of Apr 2009 at 12:16 pm
You need to take quick profits when playing counter trend. SRS had a double top on the one minute chart with neg divergence.
SRS
Posted by drorlando on 3rd of Apr 2009 at 01:00 pm
Yep, but I was banking on a correction since we are so over-bought. But it was a small entry this time though.
SRS
Posted by drorlando on 3rd of Apr 2009 at 01:02 pm
However, as I have repeatedly said, $DJR "R" at 110 will be hard to take out anytime soon.
SRS
Posted by drorlando on 3rd of Apr 2009 at 01:56 pm
I was wrong again, right through 110
SRS
Posted by rgoodwin on 3rd of Apr 2009 at 02:00 pm
Glad you were wrong - I am short SRS
SRS Short
Posted by drorlando on 3rd of Apr 2009 at 02:02 pm
with this heck of a run on REITS one would consider a down day Monday.
DR O ... Kinda looks
Posted by cspirit on 3rd of Apr 2009 at 01:26 pm
DR O ... Kinda looks like a bear flag on intraday 15min. chart now > Wonder if its plays out still today.
Appears to be playing out
Posted by cspirit on 3rd of Apr 2009 at 01:55 pm
Appears to be playing out and now putting in another flag pole on 15min. chart ...
Here's Another $DJR Possibility
Posted by trade_happy on 3rd of Apr 2009 at 01:26 pm
I'll tell ya' what: I see a real clear Bull Pennant on that 5min chart of the $DJR, and likewise a REAL clear Bear Pennant on the SRS , both 30min, 15min, and 5min.
It's possible that 110 Resistance Line will soon be toast - at least something to really watch for, especially in this Primary Wave B we're riding.
SRS Is Toasted...
Posted by trade_happy on 3rd of Apr 2009 at 01:55 pm
...and the 110 Resistance Line on $DJR is now toast, too.
Title: $DJR pattern question on a
Posted by straws on 3rd of Apr 2009 at 02:00 pm
on a 1 min chart... Is that what is known as a "Cup and Handle" that would play to the upside?
On that 1min chart, that
Posted by trade_happy on 3rd of Apr 2009 at 02:10 pm
On that 1min chart, that shape you see that looks like a Cup and Handle is tilted, I think, too much to be a C&H - you wanna see those level. However, what you're looking at is STILL something that indicates upside. Here's why: it's basically a strong uptrend that goes into sideways consolidation, and in those instances the chart tends to leave consolidation in the same direction in which it entered consolidation, in this case UP.