I see several data points on both charts NQ..some of them provide good trade oppty's..thanks for posting these!
i see a valley but if i turn the chart 360 i see a mountain with blue skies. Second chart i see a godzilla.
I see a double top in the 1st chart, and a kind of head and shoulders/doomed house pattern on the 2nd lol
Fired up the workhorse to see what I missed and couldn't resist this one on the NQ ... took 25 ticks profit. I'm going to follow up with those two charts from earlier soon - need to do some annotating
So, starting with Godzilla - a snippet from yesterday's NQ. Made some notes that to show how I use a chart which is simply price history in graphical form to make trade decisions, find levels, etc. You could do the same thing with an excel spreadsheet, but you'd have to be real quick with the highs and have an exceedingly sharp memory with instant recall. Pattern recognition skills would have to be through the roof. It is much easier with a graph. The real TA lesson is in the next chart, which I will have in a bit.
Interesting to see the low probability scenario playing out by the close. These days are somewhat rare and generally not bearish, but set up more up side or rangebound movement in the near future. As mentioned in another thread, my bet is that a test of the highs from September/October last year is due. This market have had every opportunity to sell, but it just won't. At least not yet. IMO.