Monthly Archives: September 2006

As we watch short-term charts, it is too easy to forget the context of our trades. In this case, yesterday’s data. The first hour produced a narrow range, and many traders thought the market was already waiting for tomorrow’s Fed … Continue reading →

Wedge Patterns usually occur at the end of a move, but occasionally you will find a well-formed WEDGE in a sideways pattern. A wedge is created by a pair of trendlines that converge, and is similar to a TRIANGLE, except … Continue reading →

Yesterday I mentioned the possibility of a breakout today, and it looked like it was happening — for a few minutes. We started with an almost five point gap on fairly good volume. Price opened above the highs of the … Continue reading →

The first hour’s range today managed all of 4.7 points. Actually the full day was wider — 6.1 points. As I mentioned Friday, I use the first hour’s range to stay out of trouble. I actually took a quick short … Continue reading →

Sometimes you get two Trend days in a row, but more often the next day is a consolidation. The first hour range was 5.1 points (just like Friday’s narrow range.) The 7:48 bar (Pacific time) created a double bottom that … Continue reading →

For many of us, Trend Days are harder to trade than the normal up and down moves we encounter for most of the month. I sometimes spend trend mornings trying to find reversal points that never appear. And oscillators won’t … Continue reading →

Today there was a nice rally starting about 7:45 (Pacific). The question wasn’t whether you caught the beginning of the rally, but how soon you decided that the direction had reversed. There were four pullbacks before price topped about 10:15. … Continue reading →