Here is a set of circumstances that I happen to like. This is the GDT 60 minute chart. Notice there is a large gap at 56. Gaps fill. Also notice we are very near the major ma's. The two indicators below show divergences relative to price. And there is consolidation. To satisfy those members that must have a directional forecast, I forecast lower prices based on this chart. However, the ultimate cool thing is... it doesn't matter whether I am right or wrong with my forecast because I will not enter until the price breaks. And that's because I am a big believer in the very fact that another member posted, while complaining about a lack of forecasting, ie., sooner or later, it is going to break. So it makes no difference to me whatsoever whether I am right or wrong about my predictions.
hello, not sure if you guys are strictly stocks or not, but i've been following these patterns for many years now in the futures markets anyway, coming into the day the DOW had a NR7, ID/NR7 the two previous days
Hey thin'! Great chart. I am so glad you posted it because the indices are some of the best examples of narrow range breaks. It isn't stocks only by intention, I just focus on stocks. It would be great if you would post some futures charts or point us to them. I'm guessing you mean real commodity futures and not the emini index futures. My early exposure to speculation was commodities and I'd greatly appreciate the chance to look at some charts.
and, for a little more monday morning quarterbacking, (my specialty) SMH came in NR7 today, along with RIMM, BRCM, CYMI.....BBH tomorrow
backman , your integrity precedes you such that you never need to consider that your posts might be viewed as hindsight. Thanks for the heads up on BBH.
unfortunately i have been polluted by the e-minis, but still follow the cows & pigs and a few others since you asked, the Hogs coming into the day were a NR7 good trading
OK...more timely post this time....watch TZOO in NR7 today...triggers around 66.32 long and 65.54 short....always volatile, and anybody can play
There are so many emini traders on ET that I am sure any nice setups you provide will be welcomed and appreciated.