Monthly Archives: January 2007

I wish the Fed would make its announcements over the weekend instead of messing up a perfectly good trading week. But even on Fed day the Fibonacci levels keep working. I just question whether it is worth trying to trade … Continue reading →

Sometimes Fibonacci measurements are obvious, and other times you have to make some tough decisions during the trading day. This morning was an example of how I attempt to make my choices. The move up before lunch is marked with … Continue reading →

Once again it’s necessary to use part of the previous day’s price data to show all the Fibonacci relationships, so this is a five minute chart rather than my trading time frame. Today starts at the beginning of the blue … Continue reading →

Today I was tempted to take at least one trade, but decided against it. Let’s look at some longer term charts and I’ll show you why. First the Daily. I last showed a Daily chart when we broke out of … Continue reading →

Yesterday we ended the session trying unsuccessfully to get through the 799 level, and I mentioned that the pattern looked like an upside triangle but with the wrong volume. Unless a triangle’s volume consistently decreases, they will often fail. Add … Continue reading →

“Patience has Big Rewards.” That’s another note I have posted on the bulletin board right next to my trading setup. Take another look at yesterday’s non-trades. Fortunately I had the patience to ignore questionable signals. Today you’ll find the reverse … Continue reading →

Understanding your own trading style is critical to trading success, and when the market doesn’t offer signals that match that style patience is the best practice. I’ve labeled the chart today showing where the signals I trade on just didn’t … Continue reading →