We have a giant falling wedge. I think that is supposed to break out upward... http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge Edit : breaking out nicely, before the breakout: Follow up: fizzled....
This has been some of the most volatile markets I have ever seen. The combination of the break of many technical levels, constant and ever-changing government actions and announcements as well as a general state of panic has made this a very difficult time to trade. I find it necessary to cut down size and increase stops and sometimes jump onboard without trying to get a pullback limit fill. I've noticed a lot of pullbacks end up running my stop and a lot of runaway trains just keep going... Best of luck to you all and good trading, Stone
well not anymore. it was just those 30 something minutes in the monring. its played out pretty easy after that. hope u got some of it too.
Damn, it had to come back one more time into the wedge before taking off... Edit: Actually, if one draws the line using only the bodies' of the candles, it didn't come back. I usually don't use this pattern...