They work great on the ES as well Since I'm using a tick based chart, I will usually put my stop below the most recent swing, which can vary between 8-15 ticks. As soon as I see some sort of higher high (in the case of a long), my stop goes to break even. If the stop has to be placed further than 15 ticks, it starts to get a bit too risky for me. In this chart I'm only drawing the top half of the triangle (essentially a trendline break), but I think it makes sense.
http://english.aljazeera.net/news/africa/2011/04/201141435431450806.html "NATO struggles for consensus on Libya"
Here is what Reuters says about OIL up day today <b>U.S. crude ends higher as dollar's weakness lifts </b> - NEW YORK, April 14 | Thu Apr 14, 2011 2:43pm EDT http://www.reuters.com/article/2011/04/14/energy-nymex-crude-idUSN1414891420110414 NEW YORK, April 14 | Thu Apr 14, 2011 2:43pm EDT (Reuters) - U.S. crude oil futures ended a dollar higher on Thursday, having reversed early losses as a weaker dollar provided lift and offset worries that high prices would erode demand. On the New York Mercantile Exchange, May crude CLK1 rose $1, or 0.93 percent to settle at $108.11 a barrel, - trading from $105.77 to $108.55.
On the New York Mercantile Exchange, May crude CLK1 rose $1, or 0.93 percent to settle at $108.11 a barrel, can somebody tell me what time is the OIL day settle price , for ref. today settle is 108.11 a) pit close b) US markets close 16:00 EST c) NYMEX close ? if so what time stamp ? d) any thing else ??
Libya ----------- http://english.aljazeera.net/news/africa/2011/04/201141494016905479.html Rebels have warned of an impending "massacre" by troops loyal to Muammar Gaddafi if NATO does not intensify its attacks on government forces in and around Misurata, which has been besieged for weeks. <b>Misurata, Libya's third-biggest city, is the only major rebel stronghold in the west of the country</b>. It has been the scene of major fighting between rebels and Gaddafi's forces for several weeks. Libyan government forces launched a heavy attack against the coastal city on Thursday, with dozens of Grad rockets, killing at least 23 people, a rebel spokesman said. He later clarified that those killed had been civilians and not rebel fighters as earlier understood. The death toll from the 90 minute artillery barrage was likely to rise, the spokesman added.
Well whatever the heck it's called, it works for me If anything it is simply the convergence of two trendlines, although it looks pretty triangular to my eyes.