having trouble with the emini, it seems to be too flat during night time, will look at it tomorow. since it is 24hours, its not like a stock where you can analyse at night and expect to be start off where you left. gona hit the sac.
Gold has been behaving erratic since i had a bad feeling about it, every sine i stated my concern it has been going lower and lower. As soon as i see a sign of normal behavior i will let you know
Price action. support/ resistance is it holding ir price breaking out, reversal patterns. I think i lay it out pretty clearly in my journal. Not saying i'm doing it right but i'm attempting to follow in others who have used same method very successfully
Thanks i will check out your journal, today I'm learning about chart patterns hopefully this is also an important key and I am not heading in the wrong direction.
gold seems to be showing some sign of life again, but we were once again taken back quite a bit. i started a new thread that deals with more basic things. Its too time consuming and my writing skills are not good enough. but it is exploring some basic concepts. I dont know why it s so hard to get a good foundation on concepts. Its like i have a better feeling of identifying entry points then i do of what a candle bar actually represents (not really)
I didnt do much today,talked to a friend that bought the Japanese company that was in charge of the nuclear plant. they supply 40% of japans nuclear power. he bought after the problems and today was rewarded with a 30% gain !!! I used to look at investing in this way it mainly required smart sense rather then all this technical stuff. Kind of miss the excitement it evoked. But i looked at the chart and it was on the web so not a good chart it really looked liked it was a good buy technically without really being able to see details, it seemed like it was at the bottom of resistance.
he also owns coke, i imagine it is where he parks his money for now. but i looked at the chart, it has a break out about a year ago from a long channel and has created a upward channel. with in that uptrend we are heading towards the bottom but i notice that it is very influenced by the moving average. every time it crosses it there is gap as if the moving average pushes the stock away untill the stock has no choice but to bounce to the opposite side. At one point it seems like the moving average pushes price down under the trend line ! as soon as this happens price becomes erattic as if it is mad and wants to get back in the channel but the moving average isn't letting it.this madness is probably a translation of emotions trading it. here we see it stay out of the channel for a while before getting back in. If it wasn't for the moving average it would seem like it was a break out. Should this situation be looked at as a break out during that time period?, even though in this case it wasn't. ____________________________________________________ Is it safe to say that if a break out occurs because of a push by a moving average it should not be considered a break out? Uploaded with ImageShack.us
is my first pick . i put in on this forum http://www.elitetrader.com/vb/showthread.php?s=&postid=3213786#post3213786