YM 15 min pre-open 7/26/7 Before the markets opened without looking at what happened overnite I was thinking for sure that the dow was going to head up to the 13950 level. Now ... Well depends ... if we close above those blue lines then we'll stay 'above ground' else we are in for a correction. 60 min chart shows the beggings of a ascending wedge If this is a solid break then 13600 will function as moderate support else 13400 as major. But again if we close above the blue lines this negates the pattern break. (chart down below)
Nkhoi what charting program do you use there? Seems like you have alot of personal settings on there. Like the program?
YM 60 min chart 8-13-07 I pasted a miniture 5 min chart also in the pic. The green lines are what I think may happen with the chart. 1. Either we go up from here and form a island reversal 2. bounce between a few trendlines and still head up 3. head back down again then head up. 4. Do something else Obviosuly if we break the larger lower trendline well be heading alot lower.
Little update - atm I'm waiting on my check to clear my brokerage. I have alot of other things on my plate so will only be focusing on trading part-time. 1. Still need to work on coming up with a solid trading plan 2. Will keep a solid trading diary 3. I'm going to have a paper-trading diary also. Preservation of capital is key. I'm going to focus on the chart; rather then the $ If you focus on the $ thats when the emotions focus on you. a wise man once said 'Your subconscious will betray you; so if you are focusing on the money subconsciously it will come out'
btw does anyone know if single stock futures count as stock trades? or as futures? (meaning do I need 25k in my account to day trade SSF?)