Daily Chart. I'm thinking long bias Monday with price trending up fairly methodically. What do you think? 6E Contract. <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=2807666>
I would be looking for a buy around the mid point of the last long up candle. To pull the trigger, I'd want to see support come in. I'd size the position by placing a stop below the first low of the double bottom.
Short. GS + volcano + no relevant short inventory -> way down is free. (btw this kind of chart gives hardly any relevant informations - they are simply not appearing in it)
I agree. Day trading is like crossing the street. Watch the traffic (price and volume) that you can see and make a decision. What traffic was like yesterday or what I think it will be tomorrow is irrelevant. I started day trading after about 8 years as a position and swing trader. That type of trading required a clear bias in order to make a trading decision. I was not successful at day trading until I "unlearned" that way of thinking.
For me personally, not enough info here to go on. I need more time frames at least before I could give an informed answer.
Based on this chart alone, I'd go short. Price had failed to make a higher high, next target the DB support zone. I could never make volume work for my trading, so I don't consider it. BTW, it also looks like one of those bearish Gartley patterns.