Double Top and the Bearish Cheat Rounded Top Arc on the current DJI (Dow Jones)
The current hourly's for the DowJones Wallstreet 30 are forming the long awaited bearish signal which is pointing towards a bearish trend for the next couple of days to close the large gap made at the end of Dec'12 thanks to the fiscal cliff saga and interestingly timely remedy reached by the US senate. In fact have been chasing this bearish move for a while and also been deceived by the rounded top move as seen, with a crazy 140+ point bounce from above the 200 moving avg (EMA).
Am looking forward to formation of cool bearish (currently seen) cross overs on the 1H, 2H, 30min, 15min, 10min charts using the Slow Stochastics and the MACD. I feel bit confident of this market down move occurring which gives us a cool 200 point profit scope on the down side for traders trading the Dow Futures / SPX500.
The Daily charts currently display the formation of a hanging man/ doji candle stick which makes me think we are headed towards closing the large gap mentioned above 13124. What made me post this was the urge to record this pattern and a execution mistake done ignoring the stochastic cross over upward using the slow stochastics while choosing to short at 13309 and being reprimanded by my boss but its a excellent learning which should help us great awesome profits...
cheers till then as I write quickly.
Am looking forward to formation of cool bearish (currently seen) cross overs on the 1H, 2H, 30min, 15min, 10min charts using the Slow Stochastics and the MACD. I feel bit confident of this market down move occurring which gives us a cool 200 point profit scope on the down side for traders trading the Dow Futures / SPX500.
The Daily charts currently display the formation of a hanging man/ doji candle stick which makes me think we are headed towards closing the large gap mentioned above 13124. What made me post this was the urge to record this pattern and a execution mistake done ignoring the stochastic cross over upward using the slow stochastics while choosing to short at 13309 and being reprimanded by my boss but its a excellent learning which should help us great awesome profits...
cheers till then as I write quickly.
We’re going to break down stock trading training for beginners so it doesn’t seem scary. One of the first things you need to do when you start out is to pick a good broker. A stock broker is going to be where you do all your business. Picking one that has large commissions and fees can be detrimental to a beginner.
ReplyDeleteAn important second step is going to be learning how to read a stock chart. The stock chart holds all of the clues to which direction the stock is going to move. Watch our ThinkOrSwim video on charts setup.
Another great resource for learning to read a chart is stockcharts.com. They have a chart school for any questions that you might have. Charts can look like Greek when you’re starting out. The more you look at a chart, the more you’ll understand it and be able to predict trends.