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Appreciate it, will be looking to enter on the breakout.agnosia wrote:nice chart. my channel is very similar. if we break out of this channel look for first target of 90.21 gap to be filled...waverider wrote: Good call! Here's the channel on a crude etf if anyone's interested:
http://stockcharts.com/h-sc/ui?s=UCO&p= ... =245824625
nice chart uempel. similar one in crude, we lost the main trendline twice already this week but have then just jumped back into it. tough trading there as well.uempel wrote:Ahh, this market is so tricky:
uempel, yes, others are using 377 on the daily, and while it may be more precise, I'm not good enough to trade with that precision. My trade volume is low... maybe 5-6 trades per week on average. So I trade around the "vicinity" of interests. That's why I prefer looking at weekly indicators. Right now, we're in my "vicinity" of comfort, so I can stomach the range around this area of interest in either direction.uempel wrote:Tart, 377 on the daily is more precise, now at 1212...
Maybe. Or we had an Extended Wave 1 in Wave 3 and so today make the Wave 4 with one more push up for 5. In other words, you may have to move that line because the market hasn't move far enough away from it to be sure the trend line is broken.uempel wrote:Ahh, this market is so tricky:
Thanks Agnosia. Don't follow crude, I only look if it's up or down. As to SPX: I guess AA is going to decide the outcome of this chart - H&S or good-bye kiss...agnosia wrote:nice chart uempel. similar one in crude, we lost the main trendline twice already this week but have then just jumped back into it. tough trading there as well.uempel wrote:Ahh, this market is so tricky: