Steve Nison is giving a candlestick charts webinar tonight in case anyone's interested. It turns out he learned all of this from NoDoji. Special Partner Event Tomorrow 2/08/2011 All event start times are shown as US Eastern Standard time zone. Date/Time* Event Name** Tuesday 2/08/2011 8:30 PM EST Candlecharts.com https://ninjatrader.omnovia.com/ http://nisoncandlescanner.com/ Candlecharts.com "Discover how to boost your trading confidence and save HOURS of precious time!" presented by Steve Nison About the event: Join candlestick guru Steve Nison for an Introduction to his Newest candlestick Charting Innovation...the Nison Candle Scanner(NCS). Today's unprecedented opportunities require a trading tool that will help you improve market timing while decreasing risk. Nison Candlesticks is that tool. Steve will cover the following topics in detail: * A brief overview of how candlesticks give you those razor sharp entry and exit signals * How to quickly find the best trade set ups almost instantly from your own custom group of markets * Spot early reversal signals so you can get into the market before the big moves * Identify Steve's most powerful candlestick patterns in any market, stocks, forex and futures * Added Bonus: Steve will show you how to create real time alert conditions so you can act quickly before other traders see the opportunity About the presenter: Steve Nison, President and Founder of Candlecharts.com, was the first to reveal candle charts to the Western world. Nison is the expert on Japanese candlestick charting techniques and is among the world's elite trading educators. He has authored three acclaimed books including Japanese Candlestick Charting Technique. 2 Special Bonuses from Steve: For all attendees of the NinjaTrader webinar, Steve will reveal his all-time most important trading rule and his insights on the current market.
Don't know how reliable this is... Suez Canal Company workers from the cities of Suez, Port Said, and Ismailia began an open-ended sit in today. Disruptions to shipping movements, as well as disasterous econmic losses, are expected if the strike continues. Over 6000 protesters have agreed that they will not go home today once their shift is over and will continue their in front of the company's headquarters until their demands are met. They are protesting against poor wages and deteriorating health and working conditions. http://www.zerohedge.com/article/here-we-go-suez-canal-workers-go-strike
Whatever the reason, the drop stopped cold at the trendline. And now we're right back to pre-5:30 drop as if nothing happened. Will we continue our journey higher will we now drop back down in the coming days? Only time will tell.
thanks for the notice on the webinar... btw, I'd like to officially thank CL for teaching me to control my emotions as I leave money on the table... Instead of banging my head on my keyboard for getting out too soon, I'm trying to have lovingly peacful thoughts of the winnings I attained. As they say, "a bird in the hand is worth two in the bush"... although I must confess that I keep thinking about the "woulda, coulda, shoulda of the bush"... OOOOOH, but why do I keep looking so longingly at the bush
6,000 protesters can't even break a trendline. And who says TA doesn't work? Some may say it looks overbought, but it's the stochastic crosses that really matter in my opinion. http://l.yimg.com/a/i/ww/news/2011/01/28/2011_super_bowl_chart.jpg
------- http://af.reuters.com/article/cameroonNews/idAFN0831565320110208 NYMEX-Crude drops on China interest rate hike Tue Feb 8, 2011 1:53pm GMT_Print | Single Page [-] Text [+] * Oil, copper prices slip after China rate hike * Oil inventory reports expected to show crude stocks rise * Coming up: API oil data, 4:30 p.m. EST Tuesday NEW YORK, Feb 8 (Reuters) - U.S. crude oil futures prices fell more than 1 percent on Tuesday after China raised interest rates in an effort to cool inflation. Both U.S. crude futures and Brent crude in London were pressured by the rate hike that could cool China's oil demand growth. Also weighing on crude prices were expectations that weekly oil inventory reports from industry and government will show crude stockpiles rose last week. U.S. crude oil inventories were expected to have risen 2.5 million barrels in the week to Feb. 4, with gasoline stockpiles seen up 2.9 million barrels, according to a Reuters survey of analysts on Monday. [EIA/S] Distillate stocks were expected to be lower, by 1.0 million barrels. Egypt's continuing political uncertainty continued to be a factor, with the possibility that unrest could flare and threaten oil supply flow in the region, but so far no disruptions to Suez Canal or the Suez-Mediterranean pipeline have been reported.
BCE, you are too funny! I'm a strong believer in candlestick charting; they reflect what the crowd is doing, where they may become fearful, greedy, totally panicked or irrationally exuberant. CL is so technically beautiful today, with the 1-min chart pretty much issuing one invitation after another throughout that uptrend. The gauge of how clean the PA is today is the fact that out of 13 trades I had ONE b/e trade and even that one showed me over 20 ticks at one point. I positioned myself really late for a break of that 88.11 and pretty much bought at the top of the failure. :eek: I consider those trades the rabid trend-follower's Badge of Honor: "Never too high, never too low!" Stepping away from my desk now...
I guess heavy distribution going on from MMs to retail trader at this 87.70 level Short 87.70 China 2 nd rate hike, tomorrow inventory numbers . We are set for 85 tomorrow
You're welcome. Some good thoughts you have here. I missed some things today too and I'm not trading much. I always feel it's better to miss an opportunity then to force a trade that's not really there and lose money. There will be other, better opportunities if we're patient. And as we learn more and become better traders, we'll more easily and accurately be able to identify the best opportunities and actually pull the trigger because we have faith in our abilities and trading plans, and the knowledge we know how to minimize losses. We forget too often maybe that life is short and we're here to be happy and enjoy it. No sense fretting about every detail that doesn't quite go our way. Better to focus on what does go our way and feel grateful.
Can't we interest you in a little counter-trend trading? Just think of all the money you could be making. You'll be able to pick tops and bottoms with ease. You'll know without hesitation when something's run too far.