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Tuesday, January 20, 2009

Tuesday's action - 012009

I have been posting charts in January with this explanation:

I am posting the charts below because they are setups that will be key to my 2009 trading. Ignore the timeframes and the specific symbols and look at the patterns - they happen every day, but people tend to miss them because they are chasing other setups or they are already in trades that are substandard (ie, trades that are not good setups...but you feel the urge to be in a trade - any trade - and you give into it).

Here are two more:

A new chapter

It is now official - President Obama. I have high hopes for his administration and the United States of America.

Here is the text of President Obama's inauguration speech.



Anonymous said...

What a great process it was to watch today. Obama is really starting off on a good foot, and I have great hopes for him. Sad to see Bush go though. You must be getting hives as he in now back in your neck of the woods.....LOL!

Formerly ADD Trader

ilan said...

what do you see on the second chart ???

Tanner said...

I would guess the long lower tail on the second and third bars, and the hammer on the third bar. Plus a nice gap above the high.

Anonymous said...

First time posting comments. Wonderful blog TraderX, absolutely wonderful.

Here is my 2 cents (novice); AUY: My timeframe is 15 mins. AUY after a brief pull back to 5 EMA proceeded to move up strongly, making higher lows. Moved beyond the OR and pulled back printing two hammer like bars both above the OR high. Entry the break of the 6th hammer like bar (on 15 mins chart). Exit at the FE.

You can use the same analysis for PNC. Again i use the 15 mins.


Anonymous said...

I am also noticing that on these charts (and others), the previous day's close is higher than the one before.

Not sure if that is significant or not.