Walid
130 posts
msg #76085
- Ignore Walid |
7/7/2009 12:13:50 AM
Eman,
Look at the daily S&P, there is a complete head and shoulder pattern. Be careful with your bullish bias.
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Eman93
4,750 posts
msg #76090
- Ignore Eman93 |
7/7/2009 1:09:13 AM
Thanks John and Wild.......
I see the pattern.... I have the neck line around 892 I am using the lows for the neck line...
We did close above the neck line ( failure?),
My trusty pattern book says.....
H & S formations are reversal formations that form at market tops
Patterns are reliablel but failures do happen... when H&S fails they "reverse the pattern and trade in an explosive manner"
Trading H&S failure enter a long above the high of the right sholder stop below the neck line
H&S (no failure) trade breakout below neckline target, depth of neckline to head....
----Trade Chart Patterns Like the Pros--- Srui Duddella
I highly recomend this book
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chetron
2,817 posts
msg #76096
- Ignore chetron |
7/7/2009 6:46:41 AM
THANX EMAN
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johnpaulca
12,036 posts
msg #76104
- Ignore johnpaulca |
7/7/2009 11:50:50 AM
JAZZ($4.58): should be short here.
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Walid
130 posts
msg #76105
- Ignore Walid |
7/7/2009 12:46:02 PM
Eman,
It is Walid not Wild. Even though the latter is definitely appealing :-)
I noticed that the book you referred to is not reviewed on Amazon. Would you like to be the first to review it?
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johnpaulca
12,036 posts
msg #76107
- Ignore johnpaulca |
7/7/2009 1:03:30 PM
JAZZ...down 0.32 cents since posting.
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Eman93
4,750 posts
msg #76115
- Ignore Eman93
modified |
7/7/2009 10:02:28 PM
Walid .....sorry..
here are are some reviews to check out.........
http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=135&CatID=3
Also yes I went short with rest of the world via SDS at the cross of the neck line.....still holding.
Up a buck and some change
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johnpaulca
12,036 posts
msg #76126
- Ignore johnpaulca |
7/8/2009 11:25:51 AM
TWM...up $6...(30K)
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Walid
130 posts
msg #76129
- Ignore Walid |
7/8/2009 12:01:53 PM
Congratulation to those who made and still making money under the nick line. I couldn’t join the crowd yesterday because of some work issues. I joined today at the open and so far so good. The only thing is that I am away from my logical stops more than I normally like to be.
Good luck to all of us.
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johnpaulca
12,036 posts
msg #76130
- Ignore johnpaulca |
7/8/2009 12:21:21 PM
JAZZ...down 0.72 cents and falling
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