Friday, November 19, 2010

I'm Becoming Nocturnal

I woke up at 2am and my service dog was waiting for me when I came out of the the bathroom with a look as if to say, "What are WE going to do now?" So I checked the charts and was able to see the sell signal (lousey signal) up at 1200. Since it was a long choppy day, I decided to just use three chart intervals to minimize the brain drain. My policy is, if I don't see a set-up using just three or four intervals then I don't take any trades. As it turned out these three were sufficient to see where things were going. Badda Bing Badda Bang!




The FRO on the daily chart is totally screwed-up. But it appears that yesterday and today were about plunging or testing to see if there is excess supply or if buyers would come in. Both days ended at or above the open after plunging to hit buy orders.

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