Just checking my notes and came across these that might be some use. Here are some price patern reversals for info.
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Afternoon all,
I've been distracted so far this morning.
Yesterday's move was stronger than certainly I expected.
Move up has held, though, below the low recorded around 15.00 on Friday. That low may be providing temporary resistance.
However, major positive blue breakline is intact and FTSE 100 above rising 1 day SMA.
Very short term: break up through red trend line could trigger trade.
On wider global picture, SP500 had another flirt with its own rising 200 day MA, but without last Wednesday's swift rebound. (So US remains a potential uncertainty until debate over 200 d MA holding is resolved.)
I've been distracted so far this morning.
Yesterday's move was stronger than certainly I expected.
Move up has held, though, below the low recorded around 15.00 on Friday. That low may be providing temporary resistance.
However, major positive blue breakline is intact and FTSE 100 above rising 1 day SMA.
Very short term: break up through red trend line could trigger trade.
On wider global picture, SP500 had another flirt with its own rising 200 day MA, but without last Wednesday's swift rebound. (So US remains a potential uncertainty until debate over 200 d MA holding is resolved.)
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Fin not really as it dropped to 80 out of hours you would have been stopped out imo and end up flat when you could have been +40...thats the problem with adding intraday..hence why i dont do it. I have hard enough time getiing one entry right let alone two 
They are from the best chart pattern/indicator info site on the web imo.
They are from the best chart pattern/indicator info site on the web imo.
Catching the end of yesterdays morning move down.
I've annotated wot i looking for to catch the end of moves using only price bars using yesterdays large drop.
1) Notice the size bar 1 (orange) in relation to the other down bars..very small in comparison this is giving u a heads up that things are slowing down/coming to an end
2) Confirmation of slow down with a reversal bar 2 (purple), closes just above bar 1 and suggesting another move down (??)
3) Doji bar 3 (yellow)...normally signal a turning/swing point.
4) Reversal bar 4 (red) confirms the previous doji bar in producing a down swing...but notice where it closes...just above bar 1..suggesting the end of the move??
5) Bar 5 (green) would give me confirmation of the end of the move and entry point. Confirmation as it closes only 1 tick or so below bar 1, and entry point as the next reversal bar moves above the close of bar 5 and well beyond bar 3.
Also, with the heavy selling pressure in the morning, would it not have been reasonable to assume that it would low of the day.......ALL GREAT AND EASY IN HINDSIGHT!!!!
I've annotated wot i looking for to catch the end of moves using only price bars using yesterdays large drop.
1) Notice the size bar 1 (orange) in relation to the other down bars..very small in comparison this is giving u a heads up that things are slowing down/coming to an end
2) Confirmation of slow down with a reversal bar 2 (purple), closes just above bar 1 and suggesting another move down (??)
3) Doji bar 3 (yellow)...normally signal a turning/swing point.
4) Reversal bar 4 (red) confirms the previous doji bar in producing a down swing...but notice where it closes...just above bar 1..suggesting the end of the move??
5) Bar 5 (green) would give me confirmation of the end of the move and entry point. Confirmation as it closes only 1 tick or so below bar 1, and entry point as the next reversal bar moves above the close of bar 5 and well beyond bar 3.
Also, with the heavy selling pressure in the morning, would it not have been reasonable to assume that it would low of the day.......ALL GREAT AND EASY IN HINDSIGHT!!!!
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sounds a bit deadly to me....reckon that apttern must appear quite often before continuing down as well.
Could be useful if a trendline has broken and you look back and see it as it couold confirm the trend break but trading a low that way in real time...,,,mmmm?
as you say ALL GREAT AND EASY IN HINDSIGHT!!!!
Could be useful if a trendline has broken and you look back and see it as it couold confirm the trend break but trading a low that way in real time...,,,mmmm?
as you say ALL GREAT AND EASY IN HINDSIGHT!!!!
Squeak! Wot no cheese?
This post is not intended for day traders but for the monthly futures merchants among us.
I should perhaps warn that those who are currently long and of a nervous disposition should read no further.
As we know usa sneezes and we catch a cold.
The chart below shows that the dow has broken through its 200sma and the s&p 500 is fast approaching it. Additionally the dow closed yesterday a significant way below the major support level of 10,000 at 9,907
A fall that holds below the support level for two or more consecutive days is a bear signal.
Watch the closing level of the dow tonight and also the proximity of the s&p500 to its 200sma.
Regards
bracke
This post is not intended for day traders but for the monthly futures merchants among us.
I should perhaps warn that those who are currently long and of a nervous disposition should read no further.
As we know usa sneezes and we catch a cold.
The chart below shows that the dow has broken through its 200sma and the s&p 500 is fast approaching it. Additionally the dow closed yesterday a significant way below the major support level of 10,000 at 9,907
A fall that holds below the support level for two or more consecutive days is a bear signal.
Watch the closing level of the dow tonight and also the proximity of the s&p500 to its 200sma.
Regards
bracke
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