If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Nice triangle breakout on 1 hour chart…intraday I favour technical analysis of 1 and 4 hourly charts, plus daily to get trend direction and current pattern identification. I use a 5 minute chart to trade off of, with my own proprietary systems on them, plus a 15 minute chart Woodies www.woodiescciclub.com Woodies CCI at default settings 14/6.
All I feel is needed is a blank chart perhaps with 2 moving averages, a MACD and a RSI, or Bollinger Bands + RSI + Volumes something like that if you do not want to make things more complicated than they are, perhaps trade only with candlesticks and an RSI for overbought/oversold. Or use only the Woodies CCI studying the document at the above website.
Here’s that triangle that could have got you 30 points in the last 10 minutes…
It’s a continuation of trend pattern. It’s one of my favorite patterns. If no my favorite because it works almost every time…if you’re patient enough to wait for it to show up!
Best regards,
Sam
PS. I admire a Singaporean stock trader and self made millionaire called Adam Khoo. You can visit his site here.
PPS. I still do not rule out dollar floor.
2 Comments
Self Explanatory…
Whatever, I have decided to make money on this announcement. It’s too good an opportunity to miss.
Wow! I’m glad I said that at 16.53 and not 16.56!
Post a Comment